2018 (7) TMI 1031 - SCH - Income Tax

Deduction u/s.80IB (10) - Interpretation of section 80-IB(10)(d) - project approved by the Pune Municipal Corporation which is the local authority - Effect of amendment w.e.f. 01.04.2005 - Whether section 80-IB(10)(d) which was brought into force w.e.f. 1st April, 2005 would apply to projects that were approved by the local authority prior to it being brought on the statute book Held that - Special Leave Petition is dismissed because of low tax effect leaving the question of law open. Pending application(s), if any, stands disposed of accordingly.

Summary

The Supreme Court of India dismissed the Special Leave Petition due to low tax effect, leaving the question of law open. Delay was condoned and pending applications were disposed of accordingly.