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of <h1>Tribunal upholds assessee's victory in tax appeal, rejecting Revenue's challenge on deduction eligibility under Income Tax Act.</h1> <h3>Dy. Commissioner of Income Tax, Panvel Circle, Panvel Versus M/s. Continental Warehousing Corporation (Nhava Sheva) Ltd.</h3> Dy. Commissioner of Income Tax, Panvel Circle, Panvel Versus M/s. Continental Warehousing Corporation (Nhava Sheva) Ltd. - TMI Issues:1. Justification of deleting disallowance made by AO on account of deduction claimed u/s. 80IA(4) of the Act.Analysis:The appeal by the Revenue was against the order passed by the Commissioner of Income Tax (Appeals) for assessment year 2013-14. The main issue raised by the Revenue was whether the CIT(A) was justified in deleting the disallowance made by the AO on account of deduction claimed u/s. 80IA(4) of the Act. The Revenue argued that the activities of operating the Container Freight Station did not fulfill the required conditions for claiming the deduction. The Revenue contended that the CIT(A) erred in allowing the deduction u/s. 80IA(4) of the Act and failed to consider that the assessee had not entered into an agreement with the government or any statutory body for developing or operating a new infrastructure facility.The assessee, on the other hand, argued that the High Court of Bombay had previously decided in their favor, holding that Container Freight Stations are infrastructure facilities entitled to claim deduction under section 80IA(4) of the Act. The assessee also referred to a decision by the Supreme Court in their own case, supporting their entitlement to claim the deduction. The assessee presented legal precedents to support their claim for deduction u/s. 80IA(4) of the Act.After hearing both parties and examining the material on record, the Tribunal noted that the High Court of Bombay and the Supreme Court had previously ruled in favor of the assessee regarding the eligibility for claiming the deduction u/s. 80IA(4) of the Act. The Tribunal found no infirmity in the order of the CIT(A) and deemed it justified based on the legal precedents and decisions provided. Therefore, the grounds raised by the Revenue were dismissed, and the appeal of the Revenue was ultimately dismissed.
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