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of <h1>Construction Firm Wins Tax Deduction Appeal</h1> <h3>Commissioner of Income Tax Versus Sakar Corporation</h3> Commissioner of Income Tax Versus Sakar Corporation - TMI Issues:1. Disallowance of deduction under Section 80IB of the Income Tax Act, 1961.Analysis:The appellant, a Firm engaged in construction, filed a return of income for the Assessment Year 2007-08, claiming a deduction under Section 80IB(10) of the Act. The Assessing Officer denied the claim, stating that the appellant was merely a contractor and not a developer. The CIT(A) allowed the appeal, holding the appellant as a developer. The Revenue appealed to the ITAT, which upheld the CIT(A)'s decision. The High Court noted that both the CIT(A) and ITAT had found the appellant to be a developer. Referring to a previous decision, the High Court affirmed that if the appellant was considered a developer, they were entitled to the deduction under Section 80IB. Consequently, the High Court found no error in the ITAT's decision to grant the deduction to the appellant.In conclusion, the High Court dismissed the Revenue's appeal, stating that the appellant was entitled to the deduction under Section 80IB as claimed. The High Court found no merit in the Revenue's arguments and upheld the decisions of the lower authorities.
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