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2017 (3) TMI 1164 - AT - Income TaxDeduction u/s 80IA of the Act on the entire business profits arrived at - Held that:- The assessee is not merely a contractor but an entity which has taken not only enterprise risk but also business risk considering the fact that it has invested huge funds in the project, which demonstrates that it has taken enterprise as well as business risk. It shows that the assessee has owned the project till it is handed over to the govt., it has taken all the risk till the project is complete. In our considered view, we adjudicate that the assessee is a developer as enumerated in section 80IA(4) and eligible to claim deduction u/s 80IA. Accordingly, we set aside the order of the CIT(A) and direct the AO to allow the assessee’s claim of deduction u/s 80IA of the Act. - Decided in favour of assessee
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