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2012 (7) TMI 729 - AT - Income TaxDecline of claim of deduction u/s 80IA(4) - the assessee was a Contractor and not developer - Held that:- After amendment by the Finance Act, 2002 for claim of deduction u/s 80IA(4) infrastructure facility is only required to be developed and there is no condition that assessee should also operate the same - after amendment, when assessee undertakes to develop the infrastructure facility only, it is the Government who will make payment to assessee in respect of infrastructure facility developed by it in terms of agreement so entered with Government. Thus no case of infringement of conditions for claim of deduction u/s 80IA(4) when the Government has made payment to the assessee in respect of the project of infrastructure development undertaken by it in terms of respective agreement entered into with Government - it appears that the AO has not minutely examined the terms of the agreement executed with Government Department - restore this appeal back to the file of AO with a direction to examine the terms and conditions of each and every contract - as per the amended law of deduction u/s 80IA(4) w.e.f. assessment year 2002-03. The relevant assessment year under consideration is also assessment year 2002-03 for which amended provisions of law is applicable - in favour of assessee.
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