ITA No. 294, 297 to 299/PAT/2023 Ganadhipati Construction Pvt. Ltd; A.Ys. 2018-19 to 2021-22

Parties Involved

Facts Summary

The assessee, Ganadhipati Construction Pvt. Ltd., is a private limited company engaged in the business of development and construction. A search and seizure action was carried out on the assessee on 29th October, 2020. The assessee filed its regular return of income on 31st October, 2018, declaring total income of ₹4,47,04,930/-. After the search notice under section 153A of the Act was issued, the assessee filed a return on 24th December, 2021, declaring total income of ₹60 lacs after claiming deduction under section 80IA of the Act at ₹4,47,04,929/-. The assessee had not claimed this deduction in the original return filed under section 139(1) of the Act. The Assessing Officer (AO) denied the claim and completed the assessment. The assessee appealed to the Commissioner of Income Tax (Appeals) (CIT(A)), who allowed the deduction, finding that the assessee was a developer and not a works contractor. The Revenue is now in appeal before the Income Tax Appellate Tribunal (ITAT).…

Legal Issues

• 1. Whether the assessee is eligible for deduction under section 80IA of the Income Tax Act, 1961?

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

Precedents Relied Upon

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