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1 - 10 of 19 (0.36 seconds)Section 80IC in The Income Tax Act, 1961 [Entire Act]
Section 80 in The Income Tax Act, 1961 [Entire Act]
Section 139 in The Income Tax Act, 1961 [Entire Act]
Section 80IA in The Income Tax Act, 1961 [Entire Act]
Section 80IB in The Income Tax Act, 1961 [Entire Act]
Section 80ID in The Income Tax Act, 1961 [Entire Act]
Section 80IAB in The Income Tax Act, 1961 [Entire Act]
Section 1 in The Income Tax Act, 1961 [Entire Act]
Income Tax Commissioner vs M/S S. Venkataiah on 26 September, 2016
It is relevant to
observe, the Hon'ble Delhi High Court in CIT v/s Unitech Ltd., ITA no.236/2015, dated
5th October 2015, while considering somewhat a similar issue relating to interpretation
of section 80AC, has observed that while the decisions of the Hon'ble Calcutta High
Court in Shelcon Properties Pvt. Ltd. (supra) and of the Hon'ble Uttarakhand High
Court in Umeshchandra Dalakot (supra) are Uma Developers directly on the issue and
support the case of Revenue that section 80AC of the Act is mandatory, but, the Court
observed that the decision of the Hon'ble Andhra Pradesh High Court in S. Venkataiah
(supra) was one declining to frame a question of law thereby affirming the order of the
Tribunal. Thus, ultimately the Hon'ble Delhi High Court left open the issue whether the
provision of section 80AC of the Act is directory or mandatory. It is to be noted that the
Tribunal, Pune Bench, primarily proceeded on the basis that if there are two conflicting
views on a particular issue, the view favourable to the assessee has to be taken.