Dismissing the appeal\u00a0 of the Revenue the Court held that \u00a0the Tribunal was correct in holding that the assessee was entitled to deduction under section\u00a080-IA(4)(iii)\u00a0and that the notification issued by the Central Board of Direct Taxes was only a formality once the approval was granted by the Government. For the AY. 2008-09 in the assessee\u2019s own case the Tribunal had called for a remand report by the Commissioner (Appeals) and recorded a finding that the assessee had not leased out more than 50 per cent. of the total area in favour of any one of the lessees. (AY.2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 80IA : Industrial undertakings-Infrastructure development-Construction of technology park-Leasing of industrial units-notification to be issued by central board of direct taxes is only a formality once approval is granted by government-Order of Tribunal deleting disallowance was affirmed.[S.80(IA)(4))(iii)] <\/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-32937","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-8zf","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/32937","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=32937"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/32937\/revisions"}],"predecessor-version":[{"id":32938,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/32937\/revisions\/32938"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=32937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=32937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=32937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}