THE ACIT, CIRCLE-4, BARODA vs. M/S. WELSPUN PROJECTS LTD.,(FORMERLY KNOWN AS MSK PROJECTS (INDIA) LTD.,), BARODA

ITA 2940/AHD/2013Status: DisposedITAT Ahmedabad28 September 2017AY 2010-117 pages
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What did the Tribunal hold?

The Tribunal held that Section 40(a)(ia) disallowance does not apply to short deduction of TDS if the payee has already been assessed. It also affirmed the deletion of Section 36(1)(iii) interest disallowance and allowed the assessee's claim for Section 80IA deduction on BOT road projects. The Section 14A disallowance was restricted to the exempt income.

What were the facts?

The Income Tax Appellate Tribunal heard cross-appeals from the Revenue and the assessee concerning assessment year 2010-11. Key issues involved disallowances under Section 40(a)(ia), Section 36(1)(iii), Section 14A, Section 40A(7), and eligibility for Section 80IA deduction.

What were the issues?

The primary issues were the applicability of Section 40(a)(ia) for short TDS deductions, the allowability of interest on advances, the classification of BOT projects for infrastructure development, and the computation of disallowances under Section 14A.

Which sections of the Income-tax Act were involved?

Section 40(a)(ia),Section 36(1)(iii),Section 14A,Section 40A(7),Section 80IA,Section 201,Section 32

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Income Tax Appellate Tribunal, AHMEDABAD “A” BENCH AHMEDABAD

Hearing: 19.09.2017Pronounced: 28.09.2017

PER S. S. GODARA, JUDICIAL MEMBER

The Revenue and assessee have instituted their instant cross appeals for assessment year 2010-11 against the CIT(A)-III, Baroda’s order dated 04.09.2013 passed in case no. CAB/III-300/12-13, in proceedings u/s. 143(3) r.w.s. 254 of t

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