2019 (6) TMI 228 - SCH - Income Tax

Validity of provisions of Section 115JB 80IC - whether ultravires inasmuch as the benefits granted under Section 80IC cannot be withdrawn by introduction of provisions of Section 115JB - petitioners has contended that in view of the various decisions of the Supreme Court, the provisions which has been introduced by the legislation by amendment of Section 115JB is discriminatory - deduction in respect of unit situated in Uttarakhand and Himachal Pradesh (special category states) - HC held the provisions are in accordance with law and the Government has power to introduce such provisions. Apart from that 80IC deduction which is made is from the gross profit and will apply only on the book profit therefore, Section 115 JB 80 IC both run in different fields - HELD THAT - Leave granted. Hearing expedited.

Summary

The Supreme Court of India granted leave and expedited the hearing in the case. Citation: 2019 (6) TMI 228 - SC Order. Judges: Mr. Rohinton Fali Nariman and Mr. Vineet Saran. Petitioner's representatives: Mr. S. Ganesh, Mr. Manish Kumar Srivastava, and Mr. Birendra Kumar Mishra.