Developer Eligible for Section 80-IA Deduction for Government Contracted Development Work

DCIT Vs Patil Construction and Infrastructure Ltd. (ITAT Mumbai) ITAT Mumbai held that developer is entitled for deduction under section 80-IA of the Income Tax Act for carrying out development work by entering into a contract with the Government. Accordingly, appeal allowed. Facts- The assessee company is engaged in the business of execution of civil and development contracts and during the year under consideration the return of income was filed declaring – after claiming deduction u/s 80IA of the Act of Rs. 4,40,47,969/-. However the AO disallowed the claim of the assessee. Conclusion...