Deduction Claim u/s 80IA(4) Reassessed: Tribunal Remands Case for Fresh Examination of Infrastructure Agreements.

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....The assessee's claim for deduction u/s 80IA(4) was denied on the grounds that the assessee is not a developer of any infrastructure project but a simple works contractor executing civil construction work for various government and semi-government departments. The assessee argued that the nature of the agreement entered into by the appellant for the assessment year in question may differ from the previous year, and a conclusion cannot be drawn solely based on the agreement for the previous year. The Tribunal found merit in the assessee's arguments, stating that the nature of works executed by the assessee can only be ascertained by examining the agreement entered into with the principals, as the terms and conditions specified therein determi.........