https://www.taxtmi.com/caselaws?id=762730 ITAT Hyderabad allowed deduction under Section 80IA for profits from infrastructure development where assessee worked as subcontractor. AO denied deduction arguing appellant lacked direct agreement with government authorities as required under Section 80IA(4). Tribunal held that since original agreement between joint venture and State Government permitted subcontracting up to 50% work, the subcontract agreement was equivalent to direct government agreement. Court found appellant's infrastructure development work satisfied Section 80IA(4) conditions, noting even successor entities can claim deduction without direct agreements. Decision favored assessee, allowing infrastructure deduction claim. en-us Wed, 27 Nov 2024 00:00:00 +0530 Thu, 05 Dec 2024 07:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762730 ITAT Hyderabad allowed deduction under Section 80IA for profits from infrastructure development where assessee worked as subcontractor. AO denied deduction arguing appellant lacked direct agreement with government authorities as required under Section 80IA(4). Tribunal held that since original agreement between joint venture and State Government permitted subcontracting up to 50% work, the subcontract agreement was equivalent to direct government agreement. Court found appellant's infrastructure development work satisfied Section 80IA(4) conditions, noting even successor entities can claim deduction without direct agreements. Decision favored assessee, allowing infrastructure deduction claim. Case-Laws Income Tax Wed, 27 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762730