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2014 (8) TMI 73 - HC - Income TaxDeduction u/s 80IA - Inland storage facility operation at various ports – Held that:- The initial claim made by assessee after complying with the provisions of Section 80IA(4)(b) of the Act for the AY 2000-01, was allowed by the AO - The Circular No.793 dated 23.6.2000 was applicable from the AY 2001-02 onwards - CBDT issued another circular No.10 of 2005 dated 16.12.2005 withdrawing the condition of transfer of assets to the Central Government, State Government or the Local Authority - when there is an agreement between the assessee and the Visakhapatnam Port Trust Authorities that any time the Port Trust can repossess the entire infrastructure facility and the assessee has an obligation to transfer the facility to the Port Trust Authorities on such compensation as may be determined by the Authorities, the assessee is entitled for deduction u/s 80IA of the Income Tax Act – thus, no substantial question of law arises for consideration – Decided against Revenue.
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