Assessee denied deduction under section 80IB(10) for AY 2007-08 for non-compliance with clause 'c'

The High Court Bombay High Court held that the assessee did not qualify for deduction of profits under section 80IB(10) for Assessment Year 2007-08 due to not meeting the requirements of clause 'c' of the section. The Registry was instructed to notify the Tribunal accordingly for subsequent actions.

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The High Court Bombay High Court Citation 2015 (12) TMI 1729 - Bombay High Court involved an appeal related to Assessment Year 2007-08. The substantial question of law was whether the assessee qualifies for deduction of profits under section 80IB(10) despite not fulfilling the provision of clause 'c' of the section. The Registry was directed to communicate the order to the Tribunal for further proceedings.

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