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TMI Blog2014 (8) TMI 73X X X X Extracts X X X X X X X X Extracts X X X X ..... uthorities that any time the Port Trust can repossess the entire infrastructure facility and the assessee has an obligation to transfer the facility to the Port Trust Authorities on such compensation as may be determined by the Authorities, the assessee is entitled for deduction u/s 80IA of the Income Tax Act – thus, no substantial question of law arises for consideration – Decided against Revenue. - Tax Case (Appeal) Nos.888 and 889 of 2013 & M.P.No.1 of 2013 - - - Dated:- 21-7-2014 - R. Sudhakar And G. M. Akbar Ali,JJ. For the Appellant : Mr. N. V. Balaji, Standing Counsel for Income Tax ORDER (Delivered by R. Sudhakar,J.) The above Tax Case (Appeals) are filed at the instance of the Revenue as against the order of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 80IA of the Income Tax Act. 3. Aggrieved by the said order, the assessee preferred appeals before the Commissioner of Income Tax (Appeals), who allowed the appeals holding that the amendment brought by Finance Act, 2001 read with Circular No.10 of 2005 was applicable from assessment year 2002-03 and there was no specific mention that the amendment was applicable only for projects which commenced operation from assessment year 2002-03. 4. Aggrieved by the said order, the Revenue preferred appeals before the Income Tax Appellate Tribunal. The Tribunal, by a common order, dismissed the appeals holding that the Commissioner of Income Tax (Appeals) was clear that the assessee had complied with the provisions of Section 80IA(4) of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appellant, the appellant has claimed deduction under Section 80IA for the first time for the assessment year 2000-01. Circular No.793 is not applicable for the assessment year 2000-01. As per the provisions of Section 80IA as it existed for the assessment year 2000-01, the following are the conditions required to be fulfilled by an enterprise to be eligible for deduction u/s.80IA(4) i) Enterprise is owned by a company registered in India. ii) Enterprise has entered into an agreement with Central Government or State Government or a local authority or any other statutory body for developing, maintaining and operating infrastructure facility subject to the condition that such infrastructure facility be transferred to Government, local or ..... X X X X Extracts X X X X X X X X Extracts X X X X
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