Gujarat HC Allowed Section 80IA Deduction as Assessee Held to Be Infrastructure Developer

PCIT Vs Montecarlo Limited (Gujarat High Court) The Revenue filed a tax appeal under Section 260A of the Income-tax Act, 1961 challenging the order of the Income Tax Appellate Tribunal dated 30 November 2023 for Assessment Year 2017–18. The proposed question of law was whether the Tribunal had erred in deleting a disallowance of ₹86.52 crore made under Section 80IA(4) by holding that the assessee was a developer of infrastructure facilities and not merely a contractor, thereby being eligible for deduction under the said provision. Read SC Judgment: SC Dismisses Tax Appeal as Developer Sta...