Dismissing the appeal of the Revenue the Court held that the assessee has not only employed plant and machinery and other assets along with staff but also it had been bearing all risks involved in road infrastructure projects. Thus, assessee could not be treated a mere work contractor. Further, as the assessee was granted deduction under section 80IA in past assessment years and in further assessment year as well, Rule of consistency had to be applied and deduction under section 80IA is to be allowed in relevant assessment year also.(AY. 2012-13)
PCIT v. MBL Infrastructure Ltd. (2024) 461 ITR 148 (Cal)(HC) Editorial : SLP of Revenue is dismissed, PCIT v. MBL Infrastructure Ltd. (2024) 461 ITR 150 (SC)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Business of road infrastructure and development-AO allowed the claim made under section 80IA after detailed scrutiny-Revision of assessment order on the ground that the assessee is only a work contractor-Unjustified-Rule of consistency is followed. [S.80IA, 260A]