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2016 (1) TMI 40 - AT - Income TaxDeduction under Section 80-IA - Held that:- In view of the mandatory requirement under Section 80-IA(4)(i)(b) of the Act, the assessee has to necessarily enter into an agreement either with Central Government or State Government or with local authority or any other statutory body for developing Container Freight Station. As found by the Tribunal in the case of A.L. Logistics Pvt. Ltd. (2015 (1) TMI 401 - MADRAS HIGH COURT) even though no specific agreement was required, approval from Government or Government agency is required for claiming deduction under Section 80-IA of the Act. Since these aspects were not examined by the CIT(Appeals), even though a specific issue was raised by the Assessing Officer, this Tribunal is of the considered opinion that the matter needs to be re-examined by the Assessing Officer in the light of the judgment of Madras High Court in A.L. Logistics Pvt. Ltd. (supra). Accordingly, the orders of the lower authorities are set aside and issue of deduction under Section 80-IA of the Act is remitted back to the file of the Assessing Officer. The Assessing Officer shall re-examine the issue and find out whether the assessee has obtained any approval or entered into any agreement with Government or Government agency, as in the case of A.L. Logistics Pvt. Ltd. (supra) and thereafter decide the same in accordance with law, after giving reasonable opportunity to the assessee. - Decided in favour of revenue for statistical purposes.
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