2015 (12) TMI 1729 - HC - Income Tax

Appeal admitted on the following reframed substantial question of law Whether on the facts and circumstances of the case and in law, the Tribunal has erred in law in holding that the assessee qualifies for deduction of profits u/s. 80IB(10) on prorata basis even though it has not fulfilled the provision of clause c of section 80IB(10)?

Summary

The High Court Bombay High Court Citation 2015 (12) TMI 1729 - Bombay High Court involved an appeal related to Assessment Year 2007-08. The substantial question of law was whether the assessee qualifies for deduction of profits under section 80IB(10) despite not fulfilling the provision of clause 'c' of the section. The Registry was directed to communicate the order to the Tribunal for further proceedings.