TaxTMI 
TaxTMI 
2022 (10) TMI 609
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....made by the AO amounting to Rs.64,43,00,313/- on account of disallowance of the claim for deduction u/s 80IA of the Act. 2. The Ld. CIT(A) erred on facts and in law in holding that the assessee was eligible for deduction u/s 80IA of the Act. 3. The Ld. CIT(A) erred on facts and in law in deleting the addition made by the AO amounting to Rs.76,80,274/- on account of disallowance u/s 14A. 4. Ld. CIT(A) erred on facts and in law in holding that while resorting to provisions of section 14A of the Act and computing disallowable amount under Rule 8D, recording the satisfaction by the AO that the working of disallowable made by the assessee was incorrect is mandatory and in absence of such satisfaction, no disallowance c....
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....assessee filed before the CIT(A). The CIT(A) allowed the appeal of the assessee. 5. The Ld. D.R. submitted that the CIT(A) was not right in deleting the addition made by the AO amounting to Rs. 64,43,00,313/- on account of disallowance of claim for deduction under Section 80IA of the Act as the assessee is claiming the deduction without fulfilling the conditions set out under Section 80IA(4) of the Act. The Ld. D.R. submitted that the enterprise which claims the deduction should carry on the business of developing or operating or maintain or developing, operating and maintaining any infrastructure facility. As per Clause (d) of the Explanation to Section 80IA(4), infrastructure facility means a port, airport, inland waterway. The CBDT Ci....
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....the Ld. D.R. submitted that the CIT(A) was not correct in allowing the said income. The Ld. D.R. relied upon assessment order. 9. The Ld. A.R. submitted that regarding Ground No. 1 & 2 of Revenue's appeal the Hon'ble Supreme Court in assessee's own case in Civil Appeal No. 4484 of 2018 has given a clear finding that assessee is eligible for claiming deduction under Section 80IA for operating and maintaining CFS facility. The Ld. A.R. further submitted that the assessment order contested by the assessee is that of 2013-14 and JNPT authority has clearly granted the certificate to the assessee in the year 2007 thereby withdrawing the earlier remarks. The Ld. A.R. further submitted that in respect of disallowance under Section 14A has not gi....
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....hennai Properties & Investments Ltd. (2015) 56 taxmann.com 456 wherein it is held that the income from letting out property should be treated as business income in specific circumstances which are set out in the said decision. 10. We have heard both the parties and perused all the relevant material available on record. As regards Ground No. 1 & 2 related to deduction under Section 80IA (4) the assessee's case is squarely covered by the Hon'ble Supreme Court decision in assessee's own case in Civil Appeal 4484 of 2018 wherein the assessee has been allowed to claim deduction under Section 80IA as the assessee is developing, operating and maintaining infrastructure facilities in the port area and is Container Freight Station which comes wit....