Deduction u/s 80IA - treating the assessee-company as a ...

Tax Authorities Reclassify Assessee-Company as Developer, Allowing Deductions u/s 80IA(4) of Income Tax Act.

June 25, 2022

Case Laws Income Tax AT

Deduction u/s 80IA - treating the assessee-company as a ‘Contractor’ and not ‘Developer’ by the Department - merely because in the agreement for development of infrastructure facility, assessee is referred to as contractor or because if some basic specifications are laid down, it does not detract the assessee from the position of being a developer, nor will deprive the assessee from claiming deduction under Section 80IA(4) of the Act. As such, looking to the overall aspects of work undertaken by the assessee we can safely come to the conclusion that the assessee is engaged in development of the infrastructure facility and therefore, a developer, which entails the assessee to claim benefits under Section 80IA(4) - AT

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Deduction u/s 80IA - treating the assessee-company as a ...

Tax Authorities Reclassify Assessee-Company as Developer, Allowing Deductions u/s 80IA(4) of Income Tax Act.

June 25, 2022

Case Laws Income Tax AT

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