Deduction u/s 80I of Income Tax Act should be Construed Liberally as the Intention of legislature is Promotion of Growth and Development of Infrastructure: ITAT [Read Order]

By Fathima Karama A.M - On September 6, 2023 8:30 pm - 2 mins read

Income Tax Act should be Construed Liberally - Intention of legislature is Promotion of Growth and Development of Infrastructure - ITAT - TAXSCAN

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the deduction under Section 80I of the Income Tax Act 1961 should be construed liberally as the intention of the legislature was the promotion of growth and development of infrastructure. The assessee,PNP Maritime Services Pvt. Ltd was engaged in the business of operating…

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