2010 (2) TMI 1314

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....ER T.R. SOOD (AM): In this appeal revenue has raised the following ground: "On the facts and circumstances of the case and in law, the Ld.CIT(A) was not justified in allowing deduction u/s.80IA of the I.T.Act, 1961m relying upon order of the ITAT Mumbai, in the case of M/s. Patel Engg Ltd. (2004) 84 TTJ(Mum) 646, inasmuch as the department has not accepted the referred order of the ITA....

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....Assessing Officer opined that the assessee was engaged only as a contractor in the execution of water supply project. Therefore, assessee was not entitled to deduction u/s.80IA because the same was available only to the persons engaged in the development of infrastructure sector and accordingly, deduction u/s.80IA was denied. 5. Learned CIT(A) following the earlier years order and following the....

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....section 80-IA - These amounts were computed after showing net profit from business of 'infrastructure project' claimed to have been carried on by assessee during relevant years - Assessing Officer did not allow deduction as in his opinion assessee had not fulfilled conditions stipulated in sub-section(4) of section 80-IA inasmuch as infrastructure was not owned by assessee-company; there was no ag....

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.... of various Governmental authorities - Accordingly, Commissioner (Appeals) upheld order Assessing Officer denying benefit of deduction to assessee under section 80-IA(4) - On second appeal, Judicial Member allowed assessee's claim whereas Accountant Member confirmed order passed by revenue authorities - In view of difference of opinion, matter was referred to a Larger Bench - It was noticed from r....