2020 (8) TMI 237

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....s. 1,34,04,387   Penalty -     Fine -     Others -   6. (a) Amount already Rs. 1,15,51,620   (b) Amount outstanding Rs. 4,62,06,437 2. The facts and circumstances under which this stay petition has been filed are as follows. The assessee is a company incorporated under the Companies Act with the main object of designing, financing, constructing and operating aviation fuel facility and providing into - Plane Refuelling Services at the airport. The assessee claimed deduction u/s. 80IA of the Income-tax Act, 1961 [the Act] on the profits derived from developing infrastructural facility. The question was whether the Fuel Farm Facility (FFF) provided by the assess....

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....owed the claim for deduction. 6. The outstanding demand that is sought to be stayed arises out of the aforesaid two additions made to the total income of the assessee by the revenue authorities. It is the plea of assessee that it has a prima facie case inasmuch as the assessee deduction u/s. 80IA has to be allowed on the basis of decision rendered by the ITAT Bangalore in the case of Menzies Aviation Bobba Pvt. Ltd. in ITA No.1160/Bang/2012 wherein the assessee's claim in that case for deduction u/s. 80IA for developing a cargo facility by entering into a contract with Bengaluru International Airport Ltd. [BIAL] which was a statutory body, was allowed by the Tribunal In that decision, the Tribunal also allowed similar claim rejecting the....