Allowing the appeal of the revenue the Court held that issuance of completion certificate after cut-off date by Local Authority but mentioning date of completion of certificate before cut-off date did not fulfil condition specified in clause (a) of section 80-IB(10) read with Explanation (ii) is not entitle to deduction. Order of Assessing Officer is affirmed. (AY. 2002-03 to 2006-07)
CIT v. Global Estate (2020) 114 taxmann.com 95 (MP)(HC) Editorial : Operation of the High Court order is stayed Global Estate v. CIT (2020) 270 Taxman 178 (SC)
S. 80IB(10) : Housing projects-Completion certificate-Issuance of completion certificate after cut-off date by Local Authority but mentioning date of completion of certificate before cut-off date did not fulfil condition specified in clause (a) of section 80-IB(10) read with Explanation (ii)-Not entitle to deduction. (Order of High Court is stayed)