Infrastructure project deduction under section 80IA(4) allowed after Tribunal applied its earlier view and upheld statutory compliance.

Deduction under section 80IA(4) was found allowable for the infrastructure project because the assessee had developed, operated and was to transfer the facility in accordance with the agreement and State approval, satisfying the statutory conditions including clause (i)(b). The Tribunal followed its view in the assessee's own earlier years and saw no reason to depart from the coordinate bench decision, so the Revenue's challenge failed.

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Issues: Whether the assessee was entitled to deduction under section 80IA(4) of the Income-tax Act, 1961 in respect of the infrastructure project.

Analysis: The Tribunal followed the view already taken in the assessee's own case for earlier assessment years. It accepted that the assessee had developed, operated and was to transfer the infrastructure facility in accordance with the agreement and approval of the State authorities, and that the conditions for deduction under section 80IA(4), including clause (i)(b), stood satisfied. The Tribunal found no reason to depart from the coordinate bench decision.

Conclusion: The deduction under section 80IA(4) was held allowable and the Revenue's challenge failed.

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