Justice Kamal Khata and Justice Dhiraj Singh Thakur of Bombay High Court decided that Income Tax deduction under section 80IA(4) is available without a certificate from the concerned port.
The appeal was preferred against the order passed by the Income Tax Appellate Tribunal, relevant to the assessment year 2011-12, whereby the appeal of the revenue has been dismissed.
The assessee, Maharashtra State Warehousing Corporation, a State Government undertaking which had set up an Inland Container Depot (ICD) and Container Freight Station (CFS) in the vicinity of Jawaharlal Nehru Port Trust (JNPT).
In its return of income, the assessee claimed a deduction in terms of section 80IA(4) of the Act.
The Assessing Officer, however, denied the benefit on the ground that the assessee had failed to furnish a certificate from the concerned Port Authority certifying that the structure was a part of the Port.
The similar claim was denied to the assessee for the similar reasons, however the Tribunal, allowed the appeal of the assessee by placing reliance upon the judgment in the case of Assistant Commissioner of Income-tax Vs. JWC Logistics Park P. Ltd.
The bench referred the case Continental Warehousing Corporation and held that there is no substantial question of law. Thus the bench unanimously dismissed the appeal submitted by the department.
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