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2016 (6) TMI 1408 - AT - Income TaxDeduction u/s. 80IA(4)(i) - Assessee is engaged in the business of providing cargo facilities at Bangalore International Airport(BIAL) - whether the company ought to comply with the condition that it should be developing, operating and maintaining any “infrastructural facilities? - CIT(Appeals) accepted the contention of the assessee that BIAL is a statutory body for the purpose of section 80IA(4)(i)(b), being an entity established under the laws for the time being in force - HELD THAT:- As decided in assessee's own case [2015 (11) TMI 401 - ITAT BANGALORE] the appellant is entitled to the benefit of deduction u/s 80IA(4), since all the conditions set out by the section are fulfilled in the cargohandling operations under a BOT arrangement with BIAL being carried on by it. The addition made by the AO by rejecting the claim is cancelled, and the AO is directed to allow the deduction to the appellant u/s 80IA(4)(i). As the very same grounds on which this Tribunal has held that BIAL is not a statutory body, have been considered by the Hon’ble High Court and have been accepted that it is a statutory body. Therefore, respectfully following the Hon’ble Hon'ble jurisdictional High Court Order, we do not see any reason to interfere with the order of the CIT(A). Agreement entered with BIAL is for development, operation and maintenance of infrastructure facility u/s. 80IA(4) of the Income-tax Act. - Decided against revenue.
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