https://www.taxtmi.com/caselaws?id=325223 The Tribunal found in favor of the assessee, ruling that the original assessment allowing the deduction under section 80IA(4) of the IT Act was valid. The CIT's decision to set aside the assessment order under section 263 was deemed unjustified as the assessee was considered a developer rather than a works contractor, based on substantial investments and entrepreneurial risk-taking. The Tribunal emphasized the AO's permissible view and consistent allowance of the deduction in previous years, ultimately allowing the appeal and restoring the original assessment order. en-us Mon, 01 Feb 2016 00:00:00 +0530 Mon, 08 Aug 2022 12:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325223 The Tribunal found in favor of the assessee, ruling that the original assessment allowing the deduction under section 80IA(4) of the IT Act was valid. The CIT's decision to set aside the assessment order under section 263 was deemed unjustified as the assessee was considered a developer rather than a works contractor, based on substantial investments and entrepreneurial risk-taking. The Tribunal emphasized the AO's permissible view and consistent allowance of the deduction in previous years, ultimately allowing the appeal and restoring the original assessment order. Case-Laws Income Tax Mon, 01 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325223