2021 (1) TMI 962 - SCH - Income Tax

Deduction u/s 80IB - Reopening of assessment - material evidence being available the same had been ignored by the Assessing Officer and the same was taken note of by the CIT(Appeals) to allow the deduction claimed under section 80-IB by the assessee - HELD THAT - We are of the view that the impugned Judgment does not warrant any interference. However we make it clear that the observations as to the scope of Section 310(2) of the Income Tax Act made in the impugned Judgment are qua the State of Karnataka given the particular local act in that case.

Summary

The Supreme Court of India in 2021 (1) TMI 962 - SC Order, stated that the impugned Judgment does not warrant interference. Observations on Section 310(2) of the Income Tax Act are specific to the State of Karnataka. The Special Leave Petition is disposed of along with any pending interlocutory application(s).