https://www.taxtmi.com/caselaws?id=754084 The Gujarat HC dismissed the revenue's appeal regarding disallowance under Section 80IA(4), following its earlier decision in MONTECARLO CONSTRUCTION LTD. The court held that the assessee qualified as a developer of infrastructure facilities rather than a contractor, making them eligible for the deduction. The determination was based on contract terms including interim payments, security deposits, penalty clauses, material procurement responsibilities, land acquisition duties, employment of qualified engineers, and liability provisions. The ITAT correctly deleted the disallowance, confirming the assessee's status as an infrastructure developer entitled to Section 80IA(4) benefits. en-us Tue, 30 Apr 2024 00:00:00 +0530 Sat, 15 Jun 2024 10:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754084 The Gujarat HC dismissed the revenue's appeal regarding disallowance under Section 80IA(4), following its earlier decision in MONTECARLO CONSTRUCTION LTD. The court held that the assessee qualified as a developer of infrastructure facilities rather than a contractor, making them eligible for the deduction. The determination was based on contract terms including interim payments, security deposits, penalty clauses, material procurement responsibilities, land acquisition duties, employment of qualified engineers, and liability provisions. The ITAT correctly deleted the disallowance, confirming the assessee's status as an infrastructure developer entitled to Section 80IA(4) benefits. Case-Laws Income Tax Tue, 30 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754084