2009 (12) TMI 1044 - HC - Income Tax

Summary

Issues involved: Interpretation of deduction u/s 80IA for bus shelters; Delay in tax deposit

Interpretation of deduction u/s 80IA for bus shelters:
The High Court of Calcutta considered the substantial question of law regarding the eligibility of bus shelters for deduction u/s 80IA of the Income-tax Act, 1961. The court questioned whether the Income-tax Appellate Tribunal erred in allowing the deduction for bus shelters, emphasizing that they may not qualify as infrastructural facilities or form an integral part of the project as required by the provisions of Section 80IA. The court admitted the appeal for further hearing on this specific point.

Delay in tax deposit:
Another issue raised was the delay in depositing the tax amount, which was approximately one month. The court determined that this issue pertains to a question of fact rather than a question of law. The Act itself provides power for dealing with late deposits, and as such, the court decided not to formulate any specific point on this matter.

The court directed the issuance of a notice to the respondent and instructed the preparation and filing of the paper book after the Christmas vacation. Parties were granted liberty to mention for enlistment in the list, and all parties were required to act on a xerox signed copy of the court's order.