Section 80IA in The Income Tax Act, 1961
80IA. Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development ... Inserted by Act 10 of 2000, Section 37 (w.e.f. 1.4.2001).] [(1) Where the gross total income of an assessee includes any profits
make the
respondent(s)-assessee(s) entitled to the benefit of
Section 80IA of the Income Tax Act, 1961, as it stood at
the material ... quote herein-below the relevant provisions of
Section 2(29BA) as also the relevant provisions of
Section 80IA(2)(iii) of the Income
need to reproduce
relevant provisions of Sections 80IA(1) , 80IA(12)(b) as also
Explanation to Section 33B of the Income ... Explanation to Section
33B ;"
Explanation to Section 33B
"Explanation: In this section, "industrial
undertaking" means any undertaking which is mainly
engaged
document. Reason one pertains to
the non-eligibility of deduction under Section 80IA in respect of the steam
turbine of the combined cycle gas power ... assessment year 1998-99 and
1999-2000 and the deduction under Section 80IA was re-worked by
taking a part of the fuel cost against
Notwithstanding anything to the contrary contained in section
10A or section 10AA or section 10B or section 10BA or in any provisions
of this Chapter ... terms of sec. 80IB of the
Act.sec. 80IB (13) of the Act provides that the provisions of sec. 80IA(5) shall
apply and under
80IA(8) of the Act since the said section is relevant in the
present case Sec. 80IA(8) reads as follows:
"Where any goods ... ordinarily fetch in the open market. The proviso to sub-
section(8) of section 80IA would come into operation only'
when in the opinion
book profit u/s 115 JB of the Act
for Rs. 14,60,94,940/-. The assessee is claiming deduction under section 80IA ... necessarily required to
claim deduction for full ten consecutive years under section 80IA of the Act,
beginning from the assessment year in which the Appellant
number of years specified in Sub-section (6).
20. Sub-section (7) of Section 80IA of the Act reads as under:
(7) Notwithstanding anything contained ... Under this section the deduction is to eligible business, as defined in Sub-section (4) thereof.
22. Sub-section (5) of Section 80IA
clause (a) of clause (1) of sub section (4) of Section 80IA of
the Act refer to the enterprise. By reading of the section ... eligible developer for making claim of
deduction u/s section 80IA (4) of the Act. From the above, it is evident that the
person
place and, hence, it will not be
impacted by sub-section (12A) of Section 80IA of the I.T. Act, 1961. We do not
agree ... taken place after 31.03.2007, the provisions of sub-section (12) of the
Section 80IA will not apply. Deduction claimed by the assessee u/s 80IA
