https://www.taxtmi.com/caselaws?id=362364 The High Court of Madras dismissed Tax Case Appeals filed by the Revenue challenging the disallowance of deductions under Section 80IB for two assessment years. The issue centered on the retrospective application of the amendment to Section 80IB and the eligibility of the assessee for the deduction. The Court upheld the Tribunal's decision, emphasizing that the amendment was prospective and did not apply to transactions where the sale of flats occurred before the legislative change. The Court relied on a Division Bench judgment and limited the right of appeal to substantial questions of law, ultimately dismissing the appeals based on established legal principles and precedents. en-us Tue, 19 Jun 2018 00:00:00 +0530 Mon, 01 Oct 2018 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362364 The High Court of Madras dismissed Tax Case Appeals filed by the Revenue challenging the disallowance of deductions under Section 80IB for two assessment years. The issue centered on the retrospective application of the amendment to Section 80IB and the eligibility of the assessee for the deduction. The Court upheld the Tribunal's decision, emphasizing that the amendment was prospective and did not apply to transactions where the sale of flats occurred before the legislative change. The Court relied on a Division Bench judgment and limited the right of appeal to substantial questions of law, ultimately dismissing the appeals based on established legal principles and precedents. Case-Laws Income Tax Tue, 19 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362364