https://www.taxtmi.com/caselaws?id=458489 The ITAT Ahmedabad upheld the assessee's eligibility for deduction under section 80IA, treating it as an infrastructure developer rather than merely a contractor based on the scope of activities undertaken. The tribunal dismissed the Revenue's appeal on this issue. However, interest income on FDR was correctly assessed as income from other sources and excluded from eligible profit for 80IA deduction. Disallowance of employees' PF and ESI contributions deposited after the time limit was upheld following Gujarat HC precedent. For additional depreciation on water treatment plant, the tribunal allowed the alternate claim directing inclusion in eligible profit for 80IA deduction. The bad debts issue was remitted to AO for examination regarding 80IA eligibility. en-us Thu, 01 Nov 2018 00:00:00 +0530 Wed, 30 Oct 2024 19:42:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458489 The ITAT Ahmedabad upheld the assessee's eligibility for deduction under section 80IA, treating it as an infrastructure developer rather than merely a contractor based on the scope of activities undertaken. The tribunal dismissed the Revenue's appeal on this issue. However, interest income on FDR was correctly assessed as income from other sources and excluded from eligible profit for 80IA deduction. Disallowance of employees' PF and ESI contributions deposited after the time limit was upheld following Gujarat HC precedent. For additional depreciation on water treatment plant, the tribunal allowed the alternate claim directing inclusion in eligible profit for 80IA deduction. The bad debts issue was remitted to AO for examination regarding 80IA eligibility. Case-Laws Income Tax Thu, 01 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458489