SC Dismisses Tax Appeal as Developer Status Under Section 80IA Already Settled

PCIT Vs Montecarlo Limited (Supreme Court of India)

The Revenue filed a Special Leave Petition (SLP) before the Supreme Court challenging the judgment of the Gujarat High Court, which had dismissed a tax appeal arising from an order of the Income Tax Appellate Tribunal for Assessment Year 2017–18. The Tribunal had deleted a disallowance of ₹86.52 crore made under Section 80IA(4) of the Income-tax Act, 1961, holding that the assessee was a developer of infrastructure facilities and not merely a contractor, and therefore eligible for deduction.

Read Gujarat HC Judg

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