The assessee, a contractor or developer, was initially denied ...

Contractor gets tax deduction for airport infrastructure development despite retrospective amendment.

November 5, 2024

Case Laws Income Tax HC

The assessee, a contractor or developer, was initially denied deduction u/s 80IA(4) by the Assessing Officer, citing the retrospective amendment introduced by the Finance Act, 2009, which required the assessee to be the owner of the property as a developer. However, the ITAT held that the assessee qualified as a developer within the meaning of Section 80-IA and was eligible for the deduction under Sub-section (4). The High Court upheld the concurrent findings of the CIT (Appeals) and the Tribunal, stating that the assessee was awarded a contract for full-fledged development of a new infrastructure facility at an airport, involving financial and entrepreneurial risk, thus qualifying as a developer eligible for the deduction.

View Source

← Previous Next →

The assessee, a contractor or developer, was initially denied ...

Contractor gets tax deduction for airport infrastructure development despite retrospective amendment.

November 5, 2024

Case Laws Income Tax HC

You may also like:

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...

The assessee was held to be a "developer" and not merely a "works contractor" for the purposes of claiming deduction u/s 80-IA(4) of the Income Tax Act. The Tribunal...

Deduction u/s 80IA - merely because in the agreement for development of infrastructure facility, assessee is referred to as contractor or because if some basic...

Levy of service tax on collection of development fees for development of the airport in future - airport services - Prima facie case is in favor of assessee - AT

Commercial construction/infrastructure development projects of road, airports, dams, tunnels etc, – levy of service tax on various service providers engaged / associated...

Deduction u/s 80IA - ICD - Inland port - infrastructure facilities - deduction allowed - HC

The Income Tax Appellate Tribunal allowed the assessee's claim for deduction u/s 80IA(4) of the Income Tax Act for profits derived from development of an infrastructure...

Deduction u/s 80IA (4) - Contractor v/s Developer - As assessee has undertaken the projects of infrastructure facility as envisaged under the provisions of section 80...

ITAT allowed the assessee's claim for deduction u/s 80IA for development of infrastructure facilities. It held that merely entering into an agreement with the government...

Eligibility for deduction u/s 80IA - The Tribunal held that a joint venture undertaking engaged in developing a new Domestic Arrival Block at an airport, is eligible for...

Union Budget 2012-2013 - Strengthening Investment Environment – Infrastructure And Industrial Development

Deduction u/s 80IA(4) - work contractor in the projects of housing development - It may be concluded that even after the amendment by the Finance Act, 2007 and the...

Levy of service tax - Development Fee collected by the appellant, from the passengers at IGI Airport - scope of ‘airport’ - it is a flat rate of charge to passengers -...

Setup and commencement of the business activity - Development of airport infrastructure activity - assessee has not completed the stages, which are considered...

ITAT rejected the assessee's claim for deduction under Section 80IA, determining that the appellant did not qualify as a "developer" or "contractor" for infrastructure...

Quick Updates: