Container Freight Stations (CFS) are eligible to deduct under Section 80IA(4)
Facts and Issue of the Case
The only issue is to be decided is as to whether the CIT(A) justified in allowing deduction u/s. 80IA(4) of the Act in respect of Container Freight Station (CFS).
Observation by the Court
The court note that this issue is covered in favour of the assessee by the decision of Hon’ble Supreme Court in batch of appeals. Similar issue basing on same identical facts came up before this Tribunal in assessee’s own case for A.Y. 2013-14 and by placing reliance on the decision of Hon’ble Supreme Court, the Tribunal decided the issue in favour of the assessee by holding that the assessee is entitled to claim deduction u/s. 80IA(4) of the Act in respect of Container Freight Station. In the light of above, the court hold that the assessee is entitled to claim deduction u/s. 80IA(4) of the Act in respect of Container Freight Station.
Conclusion
The appeal of Revenue is dismissed by the court.
DCIT-Vs-Continental-Warehousing-Corporation-Nhava-Sheva-Ltd-ITAT-Pune
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