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

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

Case Laws Income Tax

November 5, 2024

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.

Case Laws Income Tax

November 5, 2024

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...

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

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...

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

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...

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...

Entitlement for deduction u/s 80IA - The assessee was not merely providing labour but was providing a complete infrastructure required to support the development of...

Deduction u/s 80IA(4) - Disallowance of project facility expenses - Revenue expenses or Capital expenditure - Appellant was engaged in infrastructure development and...

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

Deduction under Sec 80IA(4) - there is no requirement that the assessee should have been the owner of the infrastructure facility. - Every contractor may not be a...

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 -...

The assessee provided project advisory services to Special Purpose Vehicles (SPVs) formed to execute infrastructure contracts obtained from NHAI. The assessee contended...

Quick Updates: