S. 80IA Claim Disallowance w/o Verification of Nature of Assessee as Developer or Works Contractor by AO: ITAT returns Matter [Read Order]
The AO had disallowed the claim on the grounds that the projects undertaken by the assessee were works contracts rather than development projects, thus not qualifying for the deduction under Section 80IA(4) of the Income Tax Act
By Manu Sharma - On October 17, 2024 10:19 am - 2 mins read
Recently, the Pune Bench of the Income Tax Appellate Tribunal ( ITAT ) dealt with a significant issue regarding the denial of a deduction claim under Section 80IA(4) of the Income Tax Act, 1961. The assessee, T and T Infra Limited, had claimed a deduction for developing infrastructure facilities, but the Assessing Officer ( AO…
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