Meaning of “It”

Case Name : Patel Engineering Ltd. Vs. Dy. CIT

Citation :[2004] 84 TTJ (MUM. – TRIB.) 646

Court : ITAT-Mumbai

Section : 80-IA

Meaning : The word ‘it’ in sub-clauses (a), (b) and (c) of clause (i) of sub-section (4) of section 80-ia has been used to denote ‘enterprise’.

Case Name : Gvpr Engineers Ltd. Vs. Asstt. CIT

Citation :[2012] 21 taxmann.Com 25/51 sot 207 (uro) (hyd.)/Kmc constructions ltd. Vs. Asstt. CIT

Court : Hyderabad High Court

Section : 80-IA

Meaning : The word ‘it’ cannot be related to the infrastructure facility, particularly in view of the fact that infrastructure facility includes rail system, highway project, water treatment system, irrigation project, a port, an airport or an inland port which cannot be owned by any one. Even otherwise, the word ‘it’ is used to denote an enterprise.

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