Suyojit Infrastructure (Bot).,, ... vs Principal Commissioner Of Income-Tax : ... on 6 November, 2018
आयकर अपीऱीय अधिकरण पण
ु े न्यायपीठ "बी" पण
specific scope exclusion for real estate
developers and Build Operate- Transfer (BOT) projects from ICDS IV on
Revenue Recognition, please clarify whether ICDS ... ICDS-IV should
be applied by real estate developers and BOT operators. Also, whether
ICDS is applicable for leases.
Answer: At present there
engaged in the
business of developing, maintaining and operating infrastructure
facility on BOT basis for Indore Municipal Corporation. The assessee
had constructed foot over bridges ... business of developing, maintaining
and operating an infrastructure facility on BOT basis for Indore
Municipal Corporation. Under this, the firm has constructed foot-
over bridges
account of income earned on the BOT Project."
A.Y. 2001-02
"1. On the facts and in the circumstances of the case ... learned CIT(A) erred in deleting the estimation of BOT project income at
Rs.21,40,000/- without appreciating the facts brought on record
construction of Amritsar Bus Terminal project on build, operate and
transfer (BOT) basis in the facts and circumstances of the case.
5. The brief facts ... business
of as promoters, builders, developers and undertakes infrastructure
projects on BOT, BOLT or turnkey basis. The assessee stood successful
builder for construction of Amritsar
held that, the appellant project known as
BOT project at Hanumangad is eligible in terms of provisions of sec.
80IA ... assessee in
respect of the execution of the project on BOT basis are
examined. The submissions made by the assessee
intangible assets" in the form of License Fee under BOT
Scheme claimed by the assessee.
2. On the facts and in the circumstances ... assessee's case the issue
involves license fee acquired under BOT scheme which can
not be termed as "intangible assets
business of construction, operation and
maintenance of infrastructure facility on BOT (Build, Operate and Transfer)
basis. In terms of the same, assessee was engaged ... entitled "Four-laning and
Strengthening of Pune-Ahmednagar Road" on BOT basis. For the assessment
year under consideration, assessee filed a return
specific scope
exclusion for real estate developers and Build -
Operate - Transfer (BOT) projects from ICDS IV on
Revenue Recognition, please clarify whether
ICDS ... ICDS-IV should be applied by real
estate developers and BOT operators. Also
whether ICDS is applicable for leases.
Answer: At present there
activities. It
is clarified that the CFS has not been built on BOT or BOLT Scheme
sand that It is situated on land which does ... trust at any point of time as it
is not built on BOT and BOLT Scheme. The CFS is also not located at
the port
