Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of vali...
Income-tax exemption for specified regulatory fees and government grants applies subject to non-commercial activity and continuing compliance conditio...
Digital accessibility audit and remediation deadlines extended, while all other disability-compliance obligations for regulated entities remain unchan...
A constituent of joint ventures and consortiums formed to bid for government infrastructure contracts was treated as eligible for deduction under section 80IA(4) because the arrangements were pass-through vehicles, with execution, risk, and profit sharing resting on the members in their agreed proportions. The absence of a direct contract in the assessee's own name did not defeat eligibility where its participation was substantively through the consortium contract. The Tribunal also held that the Explanation to section 80IA(13) excludes only pure works contracts; the assessee, having undertaken design, procurement, construction, commissioning, and operation and maintenance obligations while bearing entrepreneurial and investment risk, was a developer and not a works contractor. Deduction was therefore allowed for both assessment years.
A constituent of joint ventures and consortiums formed to bid for government infrastructure contracts was treated as eligible for deduction under section 80IA(4) because the arrangements were pass-through vehicles, with execution, risk, and profit sharing resting on the members in their agreed proportions. The absence of a direct contract in the assessee's own name did not defeat eligibility where its participation was substantively through the consortium contract. The Tribunal also held that the Explanation to section 80IA(13) excludes only pure works contracts; the assessee, having undertaken design, procurement, construction, commissioning, and operation and maintenance obligations while bearing entrepreneurial and investment risk, was a developer and not a works contractor. Deduction was therefore allowed for both assessment years.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4807
Join Channel
TaxTMI 
