2012 (6) TMI 316 - ITAT, PUNE

Deduction u/s 80-IA - whether all the three conditions embodied in S.80-IA(4)(i) were required to be simultaneously fulfilled - assesse mentioned that the assessee is a contractor/developer and claimed deduction under section 80-IA(4) of the Income-tax Act – Held that:- in the case of an enterprise carrying on business or developing which is the case of the assessee, all the conditions referred to clause (i) of section 80IA (4) should refer to the conditions as applicable to the developer. developer who is only developing the infrastructure facilities since he does not operate and maintain Infrastructural facilities, cannot be expected to fulfill the condition at subclause (c) which is an impossibility and the requirements to fulfill the said condition shall amount to absurdity and therefore uncalled for. appeals of the assessee are allowed