Developers & Contractors Pvt. Ltd. , ... vs Acit Range-10 , Delhi on 24 February, 2023
IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH ... 2022
(Assessment Years : 2017-18 & 2019-20)
G. S. Developers & Vs. ACIT
Contractors Pvt. Ltd. Range -10
C-58, Community Centre, Delhi
Sahapuri
Dcit, Circle-10(1), New Delhi vs G.S. Developers & Contractors Pvt. Ltd, ... on 9 September, 2021
1
IN THE INCOME TAX APPELLATE TRIBUNAL ... Developers & Contractors Pvt Ltd
Circle 10(1) 201-202, C-58, Shahpuri Tirath Singh
New Delhi Tower, Community Centre,
Janakpuri, New Delhi
PAN : AAACG
developer of the infrastructure facility.
ASSESSEE IS A DEVELOPER OF INFRASTRUCTURE
FACILITY:
The issue of difference between a developer and a contractor
was examined ... Rajkot) has examined the scope
of terms "developer", "contractor" and "work contract" vis a
vis section 80IA
developer of the
infrastructure facility.
ASSESSEE IS A DEVELOPER OF INFRASTRUCTURE FACILITY:
The issue of difference between a developer and a contractor was examined ... Rajkot) has examined
the scope of terms "developer", "contractor" and "work contract" vis a vis section 80IA
from revenue generated by the developer/land
owner.
13.3 To summarize, the developer acts as a principal
whereas the contractor acts as an agent ... developer. The developers, in
true sense, are the persons who are carrying out the business
of developing or operating and maintaining or developing,
operating
conditions as applicable to the developer. In other
words, the developer who is only developing the infrastructure facilities since
he does not operate and maintain ... will definitely be a 'works contractor' but every works
contractor may not be a 'developer'. A 'developer
applicable from 1.4.2003, provides
that it applies both to the Contractors and Developers. This AS-7
specifies two methods of accounting for construction contracts, namely ... real
estate transactions' (Revised 2012). This applies both to the Contractors
and Developers. It substantially reiterates the prescription of 2006
Guidance note by providing
developer and
builder. Accordingly, the assessee who is developing and building in substance
would be eligible for deduction and a contractor or booking agent ... available only to an undertaking developing housing
projects as a developer and not merely as a work contractor. For finding out
whether on the facts
from M/s Sunrise Developers (P) Ltd., [new
name being Tarangi Contractors & Developers
pvt.Ltd] through banking channel, vide re-assessment
order passed ... from M/s Sunrise
Developers (P) Ltd. [new name being Tarangi
Contractors & Developers Pvt Ltd],
The ld. A.O. had made such addition
INTEREST EXPENSES u/s 36 (1 Uiii)
Page | 2
Menora Developers & Infrastructure Pvt. Ltd Vs ITO
ITA No. 3125/Del/2016 and 2716 ... object with the main object of carrying on business of
contractor, builder, Infrastructure developers, estate
developers etc. No such business activities were carried out
either
