Apex Court stayed the judgement in CIT v. Global Reality( 2015) 379 ITR 107 (MP) (HC) ( 2020)114 taxman 95 (MP) (HC) where it was held that issuance of completion certificate, after the cut off date by the Local Authority but, mentioning the date of completion of project before the cut off date, does not satisfy the condition specified in clause (a) of Section 80IB (10) read with Explanation (ii) thereunder hence not entitle to exemption . ( SLP Nos. 35004-05/2015, dt. 08.07.2019)( AY. 2004 -05 to 2006 -07)
Global Estate v. CIT ( 2020 ) 114 taxman .com 96 (SC), www.itatonline.org
S. 80IB(10): Housing project – Stay of judgement in CIT v. Global Reality(2015) 379 ITR 107 (MP) where it was held that issuance of completion certificate, after the cut off date by the Local Authority but, mentioning the date of completion of project before the cut -off date, does not satisfy the condition specified in clause (a) of Section 80IB (10) read with Explanation (ii) thereunder hence not entitle to exemption . [ S.80IB(10)(a) ]