TaxTMI 
TaxTMI 
TaxTMI 
2016 (9) TMI 1579
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.... order. 2. The only issue arises for consideration is deduction under Section 80-IA of the Income-tax Act, 1961 (in short 'the Act'). 3. Shri Supriyo Pal, the Ld. Departmental Representative, submitted that the assessee claimed deduction under Section 80-IA of the Act in respect of Container Freight Station. The Assessing Officer disallowed the claim of the assessee on the ground that there was no agreement between the assessee and the Government of India or its agency. However, the CIT(Appeals) found that the Container Freight Station established by the assessee, being extended arm of port, is eligible for exemption under Section 80-IA of the Act. According to the Ld. D.R.,the CIT(Appeals) has not considered that agreement betwee....
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....r claiming deduction under Section 80-IA of the Act, entering into an agreement with Government is essential pre-condition. The agreement shall be for the purpose of transferring the infrastructure facility to the authority concerned on the expiry of the time stipulated. However, from the assessment year 2002-03, the Container Freight Station is also considered as extended arm of the port. According to the Ld. counsel, for the purpose of claiming deduction under Section 80-IA of the Act, what is required is certificate from the concerned port authority to the effect that the Container Freight Station is a part of the port. In this case, according to the Ld. counsel, the Chennai Port Trust authorities certified that the Container Freight Sta....
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....r after the 1st day of April, 1999 by an enterprise which developed such infrastructure facility (hereafter referred to in this section as the transferor enterprise) to another enterprise (hereafter in this section referred to as the transferee enterprise) for the purpose of operating and maintaining the infrastructure facility on its behalf in accordance with the agreement with the Central Government, State Government, local authority or statutory body, the provisions of this section shall apply to the transferee enterprise as if it were the enterprise to which this clause applies and the deduction from profits and gains would be available to such transferee enterprise for the unexpired period during which the transferor enterprise would h....
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.... zone on or after the 1st day of April, 2001 and transfers the operation and maintenance of such industrial park or such special economic zone, as the case may be, to another undertaking (hereafter in this section referred to as the transferee undertaking), the deduction under sub-section (1) shall be allowed to such transferee undertaking for the remaining period in the ten consecutive assessment years as if the operation and maintenance were not so transferred to the transferee undertaking : Provided further that in the case of any undertaking which develops, develops and operates or maintains and operates an industrial park, the provisions of this clause shall have effect as if for the figures, letters and words "31st day of March, 200....
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....0th day of November, 2005, with majority equity participation by public sector companies for the purposes of enforcing the security interest of the lenders to the company owning the power generating plant and such Indian company is notified before the 31st day of December, 2005, by the Central Government for the purposes of this clause ; (b) such undertaking begins to generate or transmit or distribute power before the 31st day of March, 2011. Sub-clause (b) of Section 80-IA(4)(i) of the Act clearly says that this section is applicable only in respect of enterprise which entered into an agreement with Central Government or State Government for the purpose of developing, maintaining, operating, etc. In the case before us, the assessee cl....
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.... (b) such structures have been built under the BOT or BOLT schemes and there is an agreement that the same would be transferred to the said authority on the expiry of the time stipulated in the agreement. This definition is applicable to assessment year 2001-02 and any earlier assessment year. 3. However, for and from assessment year 2002-03 onwards, structures at the ports for storage, loading and unloading etc will be included in the definition of "port" for the purpose of sections 10(23G) and 80-IA of the Income-tax Act, 1961, if the following condition is fulfilled : -the concerned port authority has issued a certificate that the said structures form part of the port. 4. This may be brought to the notice of all the officers in ....