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2010 (1) TMI 774 - AT - Income TaxDenial of deduction claim u/s 80IA(4) in respect of income derived from the activity of development of eligible infrastructure facilities - Assessing Officer noticed that these assessees were engaged in the business of civil contracts for construction of roads, highways etc, they were not engaged in the business of developing any infrastructure facility - Held that:- conditions for claiming deduction u/s 80IA(4) have not been satisfied, - order of the CIT (A)upheld. Levy of Interest u/s 234B - whether consequential in nature - held that:- In the present case, the assessee did not pay advance tax on the amount of deduction claimed because of the decision of the Tribunal in the case of Patel Engineering 2004 (6) TMI 245 - ITAT BOMBAY-F by which deduction u/s 80IA(4) was held allowable. - Later the larger Bench overruled the decision of Patel Engineering and in view of these facts, the deduction claimed u/s 80IA was held not allowable. - levy of interest u/s 234B cancelled. - Decided in favor of assessee.
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