S.80IA Combined or Individual Activity – Whether the Assessee is entitled to tax holiday for development of the infrastructure development?

M/s. G.V.P.R Eng. Ltd Vs ACIT (Hyderabad ITAT) The assessee claimed deduction under section 80IA of the Act for these assessment years as the profit and gains is from industrial undertaking engaged in infrastructure development. According to the revenue, the assessee had only taken up the renovation and modernization of the existing net work/infrastructure facilities. It is also observed that as per agreement, the assessee entered for building or constructing the whole or part of the project for which the entire investments were made by the Government and the assessee was paid ‘on running b...