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TMI Blog2010 (9) TMI 938X X X X Extracts X X X X X X X X Extracts X X X X ..... r the assessee submitted that the assessee is engaged in the business of operation and maintenance of port and ships. Assessee entered into an agreement on 1.5.2003 with M/s. Ennore Port Ltd. for rendering various services. A copy of the agreement is available at page 1 of the paper book field by the assessee. According to this agreement, assessee has to maintain the M/s. Ennore Port Ltd.. Before the agreement dated 1.5.2003, a similar agreement was entered into between M/s. Ennore Port Ltd. and M/s. Ocean Sparkle Limited for operation and maintenance of Ennore Port and ships on the same terms and conditions. This Tribunal after considering the agreement entered into between M/s. Ocean Sparkle Limited and M/s. Ennore Port Ltd. found that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee entered into an agreement to provide certain crafts to be used in the operation and maintenance of the port. According to the learned Departmental Representative, the assessee's agreement is only a chartered party agreement with M/s. Ennore Port Ltd. Therefore, the assessee, at best, may be entitled for certain rent. The responsibility of the assessee is restricted to the operation and maintenance of its own vessel/craft. Even though the operation of the vessel/craft may be essential for the operation of the port, it does not, however, amount to maintenance of the port itself. Therefore, according to the learned Departmental Representative, assessee is not entitled to any deduction under S.80IA of the Act. 5. We have consider ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee has complied with all the three conditions required for deduction under S.80IA(4) of the Income Tax Act. Therefore, the assessee is eligible for deduction under S.80IA, provided M/s. Ennore Port Ltd. has not availed the said relief for the assessment year under consideration. In view of the above discussion, we are unable to sustain the orders of the lower authorities on this issue. We accordingly set aside the impugned orders of the lower authorities on this issue, and direct the Assessing Officer to allow assessee's claim for deduction under S.80IA of the Act, if M/s. Ennore Port Ltd. has not availed the same for the year under consideration. 6. Subject to the above observation, assessee's appeal stands allowed. Order pronounced ..... X X X X Extracts X X X X X X X X Extracts X X X X
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