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2021 (5) TMI 724 - AT - Income TaxDeduction u/s 80IA - consortiums’ and JVs entitlement to claim 80IA deduction relief - CIT(A) held that the provision of deduction u/ s 80IA(4) is applicable to constituent of the JVI Consortia without appreciating that the assessee has not entered into an agreement with the Central Government or a State Government or a Local Authority or any other Statutory Body - HELD THAT:- Coming to Revenue’s first and foremost argument regarding consortiums’ and JVs entitlement to claim 80IA deduction relief, we make it clear that the tribunal’s co-ordinate bench order in M/s. Transtroy India Limited(supra) has already decided the same issue in assessee's favour and against the department. No contrary judicial precedent has been quoted at the Revenue’s behest to rebut the same. We thus, uphold the CIT(Appeals) findings qua this former grievance canvassed from the revenue’s side. Assessee's status as a developer or a mere works contractor u/s. 80IA(4) and 80IA Explanation - We note that the Assessing Officer detailed discussion of the assessment order has made it clear that the assessee itself satisfies all the three components of development, operation, and maintenance thereof along with financial involvement and risk factor involved in the corresponding infrastructure projects. Revenue’s argument raised before us goes contrary to the assessment findings therefore. We thus are of the opinion that there is neither any irregularity nor illegality in the order of the CIT(Appeals)’s identical findings allowing the assessee's sec.80-IA deduction claim. Both these lower appellate orders are upheld therefore.
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