Case Law Details
Sec. 80-IB deduction can’t be taken away because of conditions levied subsequent to approval of projects
Section 80-IB(10) as amended by inserting clause (d) with effect from April 1, 2005 should be applied retrospectively is also without any merit, because, firstly, clause (d) is specifically inserted with effect from April 1, 2005 and, therefore, that clause (d) seeks to deny section 80-IB(10) deduction to projects having commercial user beyond the limit prescribed under clause (d), even though such commercial user is approved by the local authority. Therefore, the restriction imposed under the Act for the first time with effect from April 1, 2005 cannot be applied retrospectively.
HIGH COURT OF GUJARAT AT AHMEDABAD
TAX APPEAL No. 1053 of 2011
MANAN CORPORATION
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