TaxTMI 
TaxTMI 
2018 (5) TMI 1174
X X X X Extracts X X X X
X X X X Extracts X X X X
....ing following question for our consideration: "Whether on facts and circumstances, the Appellate Tribunal has erred in law and on facts in deleting the disallowance of deduction made by the Assessing Officer of Rs. 4,97,39,025/u/ s. 80IA (4) of the Act? " 3. Brief facts are as under. 4. Respondent assessee is a private limited company and is engaged in implementing infrastructure development projects. For the assessment year 2010-11, in the return of the assessee filed, it had claimed deduction of Rs. 4.97 crores (rounded off) under section 80IA(4) of the Income Tax Act, 1961 ('the Act' for short). The case of the assessee was that it had undertaken road development project, for which, it had entered into an agreement....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ly as a NODAL agency for the State Government for infrastructure development. He further noted that; "(i) The approval for the project i.e., four lining of Chhayapuri ROB, near GSFC Junction, Vadodara was sought from the Gujarat Industrial Development Board by the GSRDC. (ii) Government of Gujarat, Roads and Building Department, Gandhinagar by its Resolutino dated, 01082002 alloted the land for construction of ROB on BOT basis. (iii) The Concession Agreement was entered into by GSRDC with the appellant which was approved by the Government of Gujarat in its meeting held on 24102000. (iv) Governmentof Gujarat, R & B Department issued an order No.Toll/102001( 29)part1 Pvt. Cell dated, 07032003 permitting the....
X X X X Extracts X X X X
X X X X Extracts X X X X
....body. This contention of the Revenue would have to be examined in light of facts on record. Such facts are that the GSRDC is a wholly Government owned company incorporated pursuant to the State Government's resolution dated 28.02.1999. The members and the Board of Directors and the memorandum of association would show that Government enjoys total control over the said Corporation. In the present case, there was a requirement of four laning of road near GSFC junction, Vadodara. A request for such purpose was made by Gujarat Industrial Development Board. For such road widening, Government of Gujarat, Road and Building Development, under its resolution dated 01.08.2002 alloted the land for construction of the road on build, operate and tra....
X X X X Extracts X X X X
X X X X Extracts X X X X
....o concession agreement for undertaking a project shall be entered into with a person unless the procedure specified in sections 8 and 9 or sections 8 and 10, as the case may be. Section 8 of the Act provides that a concession agreement for undertaking a project may be entered into with a person who is selected through a competitive public biddings as provided in section 9 or by direct negotiation as provided in section 10. Section 9 of Act of 1999 lays down a detailed procedure for selection of a person by competitive public bidding. Section 10 on the other hand lays down a procedure prescribed to select a person by direct negotiation. 12. It can thus, be seen that the Act of 1999 makes detail provisions for awarding contracts for infras....