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2019 (9) TMI 1392 - AT - Income TaxAllowability of deduction u/s 80IA(4)(i) - HELD THAT:- This issue has been adjudicated against the assessee and in favour of the Revenue by the order of this Bench of the Tribunal in WEST BENGAL HOUSING INFRASTRUCTURE DEVELOPMENT CORPORATION [2019 (6) TMI 921 - ITAT KOLKATA] wherein held no such details provided by the assessee before the AO in claiming the said project in New Town is an integral part of highway project. Therefore, in our opinion, the assessee is not entitled to claim deduction u/s 80IA. Interest on Treasury Account - Sum deposited Treasury Account of the State Government - Correspondence between the Government of West Bengal and the assessee - HELD THAT:- The correspondence, which lead to the assessee investing in the Government Treasury, the terms and conditions under which such deposits/investments were made, have to be examined. The type of accounts being maintained, their numbers etc. have to be examined only on such detailed enquiry, in our view it can be concluded as to whether the deposits/investments in question is a non-interest bearing deposits/investments or not - set aside the issue to the file of the AO for fresh adjudication in accordance with law. AO shall issue necessary notices to the Director of Treasury, Directorate of Treasury and Accounts and thereafter he shall, after examining all the necessary correspondence adjudicate the matter afresh in accordance with law. In the result this ground is allowed for statistical purposes. Taxability of interest income on fixed deposit - AO has brought to tax this amount on the ground that the assessee failed to credit the interest on F.Ds to the P&L account and has directly deducted the same from project cost - HELD THAT:- On a query from the Bench, both parties agreed that the issue may be restored to the file of the AO, with a direction to verify the claim of the assessee that the amount in question has already been offered to tax. The AO is directed to verify this claim and if it is found that the assessee has not offered this interest on F.Ds to tax in its return of income and accounts, then he is directed to bring the same to tax.
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