Assessee eligible for benefit u/s 801A even if only part of Infrastructural Project work is executed by it

ORDER

PER SHAILENDRA KUMAR YADAV, JM

Background of the case is that the Assessing Officer passed an assessment order disallowing the assessee’s claim for deduction u/s.80IA(4) of the Act. The CIT(A) confirmed the order of the Assessing Officer. Matter was carried before the ITAT. However, while passing the order, the Judicial Member and the Accountant Member differed. While the Judicial Member accepted the claim of the assessee, the Accountant Member did not agree. Accordingly, under provisions of section 2 55(4) of the Act the matter was referred to the Third Member. The issue in question pertains to A.Y. 2000-01 and 2001-02 The appeals were heard by the Third Member. However, while giving its opinion as per the provisions of section 255(4) of the Act the Third Member was of the opinion that the said matter ought to be heard by the Larger Bench of third Member i.e. a bench comprising of three members u/s. 255(4) of the Act. The matter was heard at length by the Larger Bench of the Third Member and they agreed with the Accountant Member. They were of the opinion that the assessee is not entitled to deduction u/s. 801A(4) of the Act. The said matter was referred back to the Division Bench of the Tribunal to give effect in conformity with the opinion of the Third Member as per the provisions of section 2 55(4) of the Act.