Deduction U/s. 80IA not eligible to contractor on Income from maintenance work of Electricity Company

M/s. Covanta Samalpatti Operating Private Limited Vs ACIT (Madras High Court) The claim for deduction made by the appellant under Section 80IA of the said Act was denied on the ground that the appellant’s undertaking has not been set up for generation or for generation and distribution of power. As rightly pointed out by the Tribunal, the main purpose of providing deduction under Section 80IA of the said Act is to encourage investment in certain specific industries and to augment the industrialization of the country. The Tribunal found from the documents produced by the assessee that th...