Taxpayer engaged in Development Work with Statutory Bodies eligible for Deduction under Section 80-IA of Income Tax Act: ITAT [Read Order]
The assessee had entered into a contract for “development” of infrastructure facility agreement and not a “works contract” and was eligible for claim of deduction under Section 80-IA (4) of the Income Tax Act
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT) observed that the taxpayer engaged in development work with statutory bodies eligible for deduction under Section 80-IA of Income Tax Act, 1961 The brief facts of the case are that the assessee is a Joint Venture Undertaking constituted by two companies M/s. Nagarjuna Construction…
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