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| The Tax Publishers2019 TaxPub(DT) 6145 (Visakhapatnam-Trib) INCOME TAX ACT, 1961
Section 80-IA(4)
Container Freight Station (CFS) being part of inland port was an infrastructure facility, as defined in Explanation to section 80-IA(4)(i) and, therefore, assessee was eligible for deduction of income earned out of CFS.
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Deduction under section 80-IA(4) - Profits and gains from infrastructural facilities - Allowability to container freight station -
Assessee company engaged in operation of Container Freight Station (CFS), claimed deduction under section 80-IA(4). AO denied deduction on the ground that definition of 'infrastructural facility does not include Container Freight Station (CFS).Held: Container Freight Station (CFS) being part of inland port was an infrastructure facility, as defined in Expln. to section 80-IA(4)(i) and, therefore, assessee was eligible for deduction of income earned out of CFS.
Followed:CIT v. Continental Warehousing Corporation (2015) 374 ITR 645 (Bom) : 2015 TaxPub(DT) 2182 (Bom-HC) and CIT v. A.L. Logistics (P) Ltd. (2015) 374 ITR 609 (Mad) : 2015 TaxPub(DT) 2635 (Mad-HC).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2014-15
IN THE ITAT, VISAKHAPATNAM BENCH
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