Principal Commissioner Of Income Tax vs M/S. V.A. Tech Wabag Pvt. Ltd.
Whether the Assessee is eligible for deduction u/s.80IA(4) of the Income Tax Act as a 'Developer' of infrastructure facility (sewerage plants) and not merely a 'Contractor' --- Held Yes. Whether the Assessee's claim towards Foreign Exchange Loss is allowable as business expenditure u/s.37(1) --- Held Yes.
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