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2016 (1) TMI 1423 - HC - Income TaxReview petition - Deduction u/s 80IB (10) (a) (ii) - delay in filing of review petitions - HELD THAT:- Neither the provisions of the Corporation Act which have been relied by the review petitioners in the present petitions nor the decision of the Supreme Court will be of any avail. Review petitioners in all fairness submits that the decision of the Supreme Court in S. Sundaram Pillai's case [1985 (1) TMI 306 - SUPREME COURT] was not dealing with the express provision such as Explanation sub-Clause (ii) below Section 80IB (10) (a) (ii). As a result, no case for review is made out. Review petitioners submits that the review petitioners be granted liberty to take recourse to remedy of appeal before the Supreme Court. It is open to the review petitioners to pursue such other remedy as may be permissible in law. This request, however, cannot be entertained in review petitions. Review petitioner in Review Petition then submits that the remedy of appeal was not available to the Department in the fact situation of that case. For, the Tribunal had already set aside the decision of the lower Authority and referred back the matter to the AO. Even so, in our opinion, that would not warrant review of the judgment under consideration on that count, as the interpretation given to the provisions contained in Section 80IB (10) as amended by the Finance (No.2) Act, 2004 which came into force w.e.f. 1.4.2005, would still apply in all cases heard and disposed of together. Taking any view of the matter all these review petitions must fail and the same are dismissed.
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