2022 (6) TMI 812 - SCH - Income Tax

Deduction u/s 80IB - HELD THAT - An amendment was made to Section 801B (10) by the insertion of Clauses (e) and (f). Hence, for assessment year 2011-2012, pertaining to the same assessee, Leave has been granted in SLP(C) ( 2021 (8) TMI 1317 - SC ORDER ) The above amendment however came into effect from 1 April 2010 and has no application for Assessment Year 2010-11 corresponding to financial year 2009-2010. Since the assessment year in the present case is 2010-2011, the present Special Leave Petition stands on a distinct footing. Having considered the judgment of the High Court and in view of the above legal position, we are not inclined to entertain the Petition under Article 136 of the Constitution. The Special Leave Petition is dismissed.

Summary

The Supreme Court dismissed a Special Leave Petition regarding an amendment to Section 801B(10) for assessment year 2011-2012, stating it does not apply to assessment year 2010-11. The petition was not entertained under Article 136 of the Constitution.