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2017 (11) TMI 1008 - HC - Income TaxDisallowance of deduction claimed u/s 80-IA(4) - income derived from the industrial undertaking of container freight station at JNPT - Held that:- This issue is squarely covered against the Revenue in light of the decision of the Delhi High Court in the case of Container Corporation of India Ltd. v. Asst. CIT [2012 (5) TMI 260 - DELHI HIGH COURT ] as well as CIT v. Continental Warehousing Corporation (Nhava Sheva) Ltd. reported in [2015 (5) TMI 656 - BOMBAY HIGH COURT]. In the aforesaid two decisions, the Delhi High Court as well as the Bombay High Court, after considering the Central Board of Direct Taxes Circular No. 10 of 2005, dated December 16, 2005 have specifically observed and held that looking to the facilities provided by the container freight station, the container freight station is an inland port as it carries out functions of warehousing, customs clearance and transport of goods from its location to sea-port and vice versa by rail or by trucks in containers. Under the circumstances, the learned Tribunal has rightly deleted the disallowance of deduction claimed by the assessee under section 80-IA(4) of the Act. - Decided in favour of assessee.
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