2019 (8) TMI 1076 - SCH - Income Tax

Entitlement to the benefit of deduction u/s 80IB(10) - assessee had undertaken the housing project known as Jai Hind - date of approval of the said project by the local authority was given on 30th September 1998, just one day prior to the cut off date given under Section 80IB(10) - HELD THAT - Since the tax effect involved in this matter is less than ₹ 2 crores, we see no reason to interfere in this matter. The special leave petition is dismissed, leaving all the questions of law open.

Summary

The Supreme Court dismissed the special leave petition as the tax effect was less than Rs. 2 crores, leaving all questions of law open. Delay was condoned, and pending applications were disposed of.