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2015 (3) TMI 668 - AT - Income TaxDeduction u/s.80IA(4)(i) - Container Freight Station [CFS] - dis-allowance on ground that ICDs, and CFSs are not ‘ports’ located on any inland water way, river or canal and therefore they cannot be classified as "inland ports" for the purpose of section 80(IA)(4) - Held that:- CFS is an inland port whose income is entitled to deduction u/s.80IA(4) as relying on Container Corporation of India Ltd., Vs. ACIT [2012 (5) TMI 260 - DELHI HIGH COURT] and All Cargo Global Logistics Ltd., Vs. DCIT [2012 (7) TMI 222 - ITAT MUMBAI(SB)] - Decided in favour of assessee. Absence of specific agreement with the Central/State Government, local authority or Statutory Body - whether the assessee is entitled to claim the benefit of section 80IA(4)(i)? - Held that:- It is evident that the proposal of the assessee was accepted by the Government on certain conditions which were duly complied with by the assessee. There may not be any specific agreement, but the sequences of events clearly show that the assessee is providing CFS facility in accordance with the conditions laid down by the Government. In such circumstances there is no need to insist for the specific execution of agreements. The co-ordinate bench of the Tribunal in the case of United Liner Agencies of India (Private) Ltd., Vs. Joint CIT (2013 (9) TMI 302 - ITAT MUMBAI), has taken a similar view, Where no specific agreement with the State Government was entered into but from the approvals granted to the assessee it was inferred that assessee should be deemed to have entered into an agreement with the State Government. Thus, we are of the considered view that the assessee has complied with all the provisions of section 80IA(4)(i) and is eligible to claim deduction under the said section. - Decided in favour of assessee.
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