https://www.taxtmi.com/caselaws?id=197028 The Revenue's appeal against the non-consideration of amended provisions of Section 80IB(10) was dismissed as the Tribunal held that the amendment did not apply retrospectively to projects approved before 01/04/2004. The assessee's appeal for deduction under Section 80IB(10) was allowed for statistical purposes due to factual errors in the assessment. The penalty imposed under Section 221(1) was partially restricted and the delay in filing the cross objection was condoned, resulting in the deletion of the penalty. The final orders favored the assessee on key issues. en-us Tue, 20 Dec 2016 00:00:00 +0530 Fri, 22 Dec 2017 08:07:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197028 The Revenue's appeal against the non-consideration of amended provisions of Section 80IB(10) was dismissed as the Tribunal held that the amendment did not apply retrospectively to projects approved before 01/04/2004. The assessee's appeal for deduction under Section 80IB(10) was allowed for statistical purposes due to factual errors in the assessment. The penalty imposed under Section 221(1) was partially restricted and the delay in filing the cross objection was condoned, resulting in the deletion of the penalty. The final orders favored the assessee on key issues. Case-Laws Income Tax Tue, 20 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197028