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2016 (5) TMI 535 - AT - Income TaxDeduction u/s 80IA(4) - Held that:- The assessee is engaged in the business of developing, operating and maintenance of container freight station (CFS) at Nhava Sheva, Mumbai, which is also approved by the concerned ministry of Government of India and duly entered into an agreement with CIDCO. As per the terms of the agreement, CIDCO allowed the assessee to set up and operate the CFS for a period of 60 years. Since, the issue has been discussed in detail after analyzing the facts and after placing reliance upon certain decisions like fro Hon’ble Apex Court in Bharat Sanchar Nigam Ltd. vs UOI (2006 (3) TMI 1 - Supreme court ) and CIT vs Paul Brothers (1992 (10) TMI 5 - BOMBAY High Court ), notification S.O. 744E, dated 01/09/1998, as amended by SO 391E dated 28/05/1999, decision in CIT vs Western Outdoor interactive Pvt. Ltd. [2012 (8) TMI 709 - BOMBAY HIGH COURT] and then affirmed the decision of the CIT(A), in favour of the assessee. Disallowance made u/s 14A - Held that:- Where no exempt income was earned by the assessee in the relevant assessment years and since the genuineness of expenditure is not in doubt, there is no question of disallowance u/s 14A of the Act - Decided in favour of the assessee.
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