https://www.taxtmi.com/caselaws?id=424269 The Tribunal ruled in favor of the assessee, determining that they qualified as a 'Developer' under Section 80IA(4) of the Income Tax Act. The deductions claimed were allowed as the assessee demonstrated significant financial investments, risks, and operational responsibilities akin to a developer. Additionally, interest income and other income were deemed eligible for deduction, following a precedent set in a similar case. The disallowance of depreciation on plant and machinery was overturned, with the Tribunal permitting the claim. As a result, all appeals by the assessee were successful, securing entitlement to deductions and reversing previous disallowances. en-us Wed, 22 Jun 2022 00:00:00 +0530 Sat, 25 Jun 2022 09:20:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424269 The Tribunal ruled in favor of the assessee, determining that they qualified as a 'Developer' under Section 80IA(4) of the Income Tax Act. The deductions claimed were allowed as the assessee demonstrated significant financial investments, risks, and operational responsibilities akin to a developer. Additionally, interest income and other income were deemed eligible for deduction, following a precedent set in a similar case. The disallowance of depreciation on plant and machinery was overturned, with the Tribunal permitting the claim. As a result, all appeals by the assessee were successful, securing entitlement to deductions and reversing previous disallowances. Case-Laws Income Tax Wed, 22 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424269