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2013 (10) TMI 1411 - AT - Income TaxAssessee is entitled for deduction under S.80IA of the Act on the profit computed by the Assessing Officer in respect of the project in Cauvery Basin, Trichy(Tamil Nadu) as the assessee is a developer and not a works contractor as presumed by the Revenue. The circular issued by the Board, relied on by learned counsel for the assessee, clearly indicate that the assessee is eligible for deduction under section 80IA (4) of the Act. The department is not correct in holding that the assessee is a mere contractor of the work and not a developer.
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