No deduction U/s. Section 80IB(10) if completion certificate issued after cut off date

CIT Vs M/s Global Reality (Madhya Pradesh High Court)

The next question that needs to be answered, is, whether the stipulation in Section 80IB(10)(a) can be said to be directory. Considering the prodigious benefit offered in terms of Section 80IB to the assessee (hundred per cent of the profits derived in any previous year relevant to any assessment year); and the purpose underlying the same – which is inter alia burden on the public exchequer due to waiver of commensurate revenue – the stipulation for obtaining completion certificat

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