2013 (3) TMI 835 - AT - Income Tax

Summary

Issues involved: Rectification of observations in the common order related to the eligibility of the assessee to claim deduction u/s 80IA of the Income Tax Act.

Summary:
The Appellate Tribunal ITAT Cochin addressed the Miscellaneous Applications filed by the assessee seeking rectification of observations in the common order dated 04-05-2012. The Tribunal was adjudicating the issue of the assessee's eligibility to claim deduction u/s 80IA of the Act. The Tribunal referred to documents like "Aerodrome License - Public Use" and "Memorandum of Understanding (MOU) on provision of facilities in the airport." It was observed that these documents did not fall under the category specified in Clause (b) of sec. 80IA(4) of the Act. The Tribunal directed the assessee to furnish the relevant agreement to the Assessing Officer. The assessee contended that there was a factual error in the observations made by the Tribunal, as they had also provided a copy of the agreement with the Airport Authority of India. However, the Tribunal did not find a copy of this agreement in the record. The Tribunal clarified that the agreement for developing or operating an infrastructural facility with the Government/Government body was essential for claiming the deduction u/s 80IA. The Tribunal added a sentence to the order, stating that the Assessing Officer should re-examine the matter after considering all materials and explanations available on record. The Miscellaneous Petition filed by the assessee was partly allowed, and the decision was pronounced on 28-03-2013.