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2015 (7) TMI 1053 - HC - Income TaxBeneficiary of the provisions of Section 80-IA(4) - whether the assessee could be said to be a developer of such project? - Held that - The authorities below on facts came to the conclusion that the assessee could be said to be a developer as contemplated by Section 80-IA(4). We have perused both the judgments and noticed that the authorities below have considered facts quite meticulously by minutely going through the terms of the contract and came to an unanimous conclusion that the assessee was a developer of the project. - Decided in favour of assessee
Issues:
- Interpretation of Section 80-IA(4) of the Income Tax Act - Determination of whether the assessee qualifies as a developer of an infrastructure project Analysis: The judgment delivered by the High Court of Bombay pertains to the interpretation of Section 80-IA(4) of the Income Tax Act in the context of an infrastructure project. The respondent assessee claimed to be a beneficiary of this provision as they were involved in the development of an infrastructure project, specifically related to water supply for domestic consumption and irrigation under a contract with the Local Authority. The crux of the matter revolved around whether the assessee could be considered a developer of the project as per the provisions of Section 80-IA(4). The lower authorities had meticulously analyzed the facts, including the terms of the contract and the role of the assessee in developing the project. Both judgments unanimously concluded that the assessee indeed qualified as a developer of the project based on the detailed examination of the contractual arrangements and the development process. Upon reviewing the judgments and the arguments presented, the High Court found no substantial question of law arising in the appeals. Consequently, the appeals were dismissed, affirming the lower authorities' determination regarding the assessee's status as a developer eligible for the benefits under Section 80-IA(4) of the Income Tax Act.
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