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Developer Eligible for Section 80-IA Deduction for Government Contracted Development Work
Case Law Details
- Case Name
- DCIT Vs Patil Construction and Infrastructure Ltd. (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Mumbai
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DCIT Vs Patil Construction and Infrastructure Ltd. (ITAT Mumbai)
ITAT Mumbai held that developer is entitled for deduction under section 80-IA of the Income Tax Act for carrying out development work by entering into a contract with the Government. Accordingly, appeal allowed.
Facts- The assessee company is engaged in the business of execution of civil and development contracts and during the year under consideration the return of income was filed declaring – after claiming deduction u/s 80IA of the Act of Rs. 4,40,47,969/-. However the AO disallowed the claim of the assessee.
Conclusion...
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