2022 (2) TMI 579

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....ified in deleting the disallowance made by the AO on account of deduction claimed u/s. 80IA(4) of the Act in the facts and circumstances of the case. 3. The ld. DR, Shri J.P. Chandraker submits that the assessee is a company engaged in the business of operating the Container Freight Station (CFS) and filed return of income declaring a total income at Rs. 74,11,870/- which was revised at Rs. 82,23,750/- after claiming deduction of Rs. 45,59,42,920/- u/s. 80IA(4) of the Act. In support of deduction it was claimed that the activities of operating the Container Freight Station qualifies as a Port which is one of the infrastructure facilities for the purpose of section 80IA of the Act. In the assessment proceedings, the assessee furnished a cer....

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....our of the assessee by holding ICDs and CFSs are infrastructure facilities entitled to claim deduction under sub-section 4 of section 80IA of the Act. He referred to Para No. 44 and submitted that the Hon'ble High Court of Bombay referred the decision of Hon'ble High Court of Delhi which is reproduced in Para No. 44 of the case laws. Further, he took us to Para No. 47 and submitted that the Hon'ble High Court Bombay held that once the facility as an infrastructural facility set up within the precincts of the port having considering its proximity to the sea port and its activities to be held the deduction is admissible u/s. 80IA(4) of the Act. Further, he referred to the decision of Hon'ble Supreme Court in assessee's own case at Page Nos. 2....