https://www.taxtmi.com/caselaws?id=308741 The High Court upheld the Tribunal's decision in a case involving the interpretation of Section 80IA(2) and Section 80IA(4) of the Income Tax Act, 1961, as well as Income Tax Rule 18C and the Industrial Parks Scheme 2008. The appellant, engaged in an Infrastructure Development Project, was granted a deduction under Section 80IA(4) for profits generated from the sale of units in an Industrial Park. The Court emphasized the developer's responsibility to develop the park and facilitate industrial growth, rather than ensuring operational units post-sale, leading to the dismissal of the Income Tax Appeal. en-us Mon, 11 Feb 2019 00:00:00 +0530 Mon, 17 Jul 2023 21:53:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308741 The High Court upheld the Tribunal's decision in a case involving the interpretation of Section 80IA(2) and Section 80IA(4) of the Income Tax Act, 1961, as well as Income Tax Rule 18C and the Industrial Parks Scheme 2008. The appellant, engaged in an Infrastructure Development Project, was granted a deduction under Section 80IA(4) for profits generated from the sale of units in an Industrial Park. The Court emphasized the developer's responsibility to develop the park and facilitate industrial growth, rather than ensuring operational units post-sale, leading to the dismissal of the Income Tax Appeal. Case-Laws Income Tax Mon, 11 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308741