Case Law Details
Case Name : Adhunik Infrastructure (P)Ltd. Vs J.C.I.T (ITAT Kolkata)
Related Assessment Year : 2010-11
Courts :
All ITAT ITAT Kolkata
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Adhunik Infrastructure (P)Ltd. Vs JCIT (ITAT Kolkata)
ITAT held that even if an assessee is merely developing the infrastructural facility (without operating and maintaining the same), it is entitled to deduction u/s 80-1A. Further, condition (b) laid out in sub-section (4) of section 80-IA mandates the existence of an agreement with the Government. Moreover, if section 80-IA grants deduction on profits from the activity of development carried out in pursuance of an agreement with the Government it presupposes that assessee will earn some profits from
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