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Fortune Builder Versus Commissioner of Income Tax

2016 (5) TMI 1224 - MADHYA PRADESH HIGH COURT

Interpretation of Section 80IB (10) as amended - Held that:- No 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 .....

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Petitioner : G. N. Purohit, Uma Parashar For the Respondent : Sanjay Lal ORDER I.A.Nos.13339/2015, 13404/2015, 14926/2015, 13340/2015, 13341/2015 & 13401/2015 - applications for condonation of delay in R.P.Nos.736/2015, 746/2015, 856/2015, 737/2 .....

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terest of justice, delay applications are allowed in the respective cases. By consent, review petitions are taken up for hearing forthwith. The leading judgment rendered in companion cases has essentially dealt with the purport of Section 80IB (10) a .....

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ese review petitions proceeds that the provisions of Municipal Corporation Act have been overlooked though specifically pointed out during the final hearing of the main appeal. Further, the view taken in the judgment under appeal is not in consonance .....

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etation of Section 80IB (10) as amended. The provisions of Municipal Corporation Act will and can have no bearing on the interpretation of the amended provisions of the Income Tax Act which were under consideration. In other words, the purport of Sec .....

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nter-alia on the basis of the express provision contained in the Explanation below Clause (a) (ii) of Section 80IB (10) as amended. The same reads thus :- 80IB (10)............ (a) ……………. (i) ……&hellip .....

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e date on which the completion certificate in respect of such housing project is issued by the local authority; Understood thus, neither the provisions of the Corporation Act which have been relied by the review petitioners in the present petitions n .....

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ation sub-Clause (ii) below Section 80IB (10) (a) (ii). As a result, no case for review is made out. Counsel for the review petitioners submits that the review petitioners be granted liberty to take recourse to remedy of appeal before the Supreme Cou .....

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