Dismissing the appeal of the revenue the Court held that, deduction could not be denied merely on ground that State Government had created a nodal agency for working out finer details and nitty-gritty of infrastructure development and assessee had entered into agreement with said nodal agency . ( AY. 2012-13)
CIT v. Ranjit Projects (P.) Ltd. (2019) 104 taxmann.com 391 / 263 Taxman 4 ( Guj.)(HC) Editorial: SLP of revenue is rejected ,CIT v. Ranjit Projects (P.) Ltd. (2019) 263 Taxman 3 (SC)
S. 80IA : Industrial undertakings–Infrastructure development- Agreement with a nodal agency established by State Government Deduction cannot be denied. [S. 80IA(4)]