Deduction U/S 80-IA Is Eligible For Industrial Undertakings Even If Infrastructural Development Is Performed With State's Nodal Agency: Calcutta HC

The Calcutta High Court ruled that an industrial undertaking engaged in infrastructure development activities performed with a state government’s nodal agency is eligible for deduction under Section 80-IA of the Income Tax Act. The case involved an assessee who undertook infrastructure development projects in collaboration with a state government agency. The court held that the assessee met the criteria for deduction under Section 80-IA, which provides tax benefits for infrastructure development. The court emphasized the importance of supporting infrastructure projects that contribute to economic development and upheld the assessee’s eligibility for the deduction. This decision underscores the significance of tax incentives for infrastructure development.