The use of word developing’ in juxtaposition to infrastructure facility in section 80-1A(4) indicates that what is eligible for deduction under this sub-section is the profits and gains derived from the development of infrastructure facility and not something dehors it; so in order to be eligible for deduction the development should be that of the infrastructure facility as a whole and not a particular part of it; it may be possible that some part of development work is assigned by the developer to some contractor for doing it on his behalf; that will not put the doer of such work into the shoes of a developer; therefore, a mere contractor cannot be conferred with the benefit as provided in section 80-IA.
IN THE INCOME TAX APPELLATE TRIBUNAL
MUMBAI, LARGER BENCH, MUMBAI
Before S/Shri G.C.Gupta, JM, R.S.Syal & Pramod Kumar, AMs
ITA Nos.1408 & 1409/PN/2003
Asst.Years 2000-2001 & 2001-2002
| M/s. B.T. Patil & Sons Belgaum Construction Private Limited 4112, “Patson House” P.B.Road Belgaum – 590 003 Karnataka State PA No.AAACB7343N. |
Vs. |
The Asstt. Commissioner of Income-tax Circle 2 Kolhapur.
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(Appellant) |
(Respondent) |
Appellant by : S/Shri S.N.Inamdar & Satish Mody
Respondent by : S/Shri S.S.Rana, CIT-DR & Pitambar Das, Sr.AR
-::: INTERVENERS :::-
