The Principal Commissioner invoked his power under section\u00a0263\u00a0of the\u00a0Income-tax Act, 1961\u00a0on the ground that the assessee had claimed deduction under section\u00a080IA(4)\u00a0for its railway sidings which was not admissible. The Tribunal held the revision not sustainable.\u00a0 On appeal the Court held that the Tribunal had rightly referred to the clauses in the agreement between the railways and the assessee and concluding that the railway administration had a right to use all the sidings which had been put up by the assessee. Therefore, the assessee fell within the ambit of sub-clause (b) of section\u00a080IA(4)(i). The contention of the Department that the two companies which were permitted to use the railway sidings were closely held group companies of the assessee and therefore, could not be construed to be used by general public was rejected since such narrow interpretation of the agreement entered into between the assessee and the railways could not be given. (AY.\u00a0 2009-10 to 2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Deduction could not be denied on ground companies which used Railway Sidings were group companies-Revision is not valid. [S. 80IA(4)(i)(b)] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-28574","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7qS","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=28574"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28574\/revisions"}],"predecessor-version":[{"id":32406,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28574\/revisions\/32406"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=28574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=28574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=28574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}