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2019 (6) TMI 921 - ITAT KOLKATADeduction u/s 80IA(4) - no income from the eligible business - as per revenue assessee basically engaged in the activities of sale of land and flats in the relevant period and all its receipts are from the sale of land and from other income - HELD THAT:- We note that the assessee has no income from the activities of infrastructure development as contemplated in sub-section (4) which is pre-requisite qualification u/s 80IA. Therefore, the assessee being involved in development, operation and maintenance of infrastructural facilities and its income was earned almost entirely from such business activities i.e. development, operation and maintenance of infrastructural facilities is contrary to record i.e. P&L A/c. Therefore, as rightly found by the AO that the assessee is not eligible to claim deduction u/s 80IA(4) as confirmed by the CIT(A) in his impugned order. On perusal of the balance sheet of the assessee, the CIT(A) found that the balance sheet does not reflect any income earned from other developing, operating and maintaining or developing, operating and maintaining any infrastructural facilities. It is also clear that the assessee did not earn any income as laid down in sub-section (4) of section 80IA. Therefore, the surplus income is eligible for deduction u/s 80IA(4) - No infirmity in the finding of CIT(A) in its impugned order that the assessee had no income from eligible business to claim deduction u/s 80IA The assessee failed to substantiate its claim before the two lower authorities. It is noted from the record that the Co-ordinate Bench of this Tribunal vide its order dated 02.12.2015 remanded the matter to the file of AO to examine all the requirements for allowing the aforesaid deduction with a direction to the assessee to provide all the details to substantiate its claim for the deduction u/s 80IA(4)(i). As rightly pointed out by the Ld.DR that there were 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 - Decided against assessee.
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