Deduction u/s 80-IB(10) Would be Allowed to Developer working on behalf of Government

Brief of the Case The Hon’ble High court in the present case held that the assessee developed an infrastructure facility/project and was not required to maintain or operate, it was entitled to cost, plus the margin of income or profit. Assesee would be entitled to deduction under section 80-IB (10). Facts of the Case Assessee is engaged in the business of building and developing of housing projects. In its return of Income, the assessee claimed deduction u/s 80-IB(10) which was declined by the AO in the course of assessment u/s 143(3). The AO observed that the assessee company had been under...