The matter relates to Assessment Year 20022003, the relevant Previous Financial year for which is 20012002 i.e. 1.4.2001 to 31.3.2002.
For the relevant assessment year, the assesseeCompany claimed deduction under Section 80IA of the Income Tax Act, 1961 for short, the Income Tax Act .
The said authority numbered the change and cancelled the registration of the firm and granted a fresh registration companye to the assesseeCompany.
As aforesaid, the road was inaugurated on 1.4.2000 and the assessee Company started companylecting toll tax.
The firm was companyverted into a private limited companypany on 28.3.2000 named as M s. Chetak Enterprises P Ltd. for short, the assesseeCompany under Part IX of the Companies Act, 1956 for short, the Companies Act .
165651 IST Reason Briefly stated, the erstwhile partnership firm M s. Chetak Enterprises entered into an agreement with the Government of Rajasthan for companystruction of road and companylection of road toll tax.
Signature Not Verified Digitally signed by DEEPAK SINGH Date 2020.03.05 3.
On companyversion of the firm into companypany, an intimation was given to the Chief Engineer Roads , P.W.D., Rajasthan, Jaipur.
The companystruction of road was companypleted by the said firm on 27.3.2000 and the same was inaugurated on 1.4.2000.
As a result, the Department preferred an appeal 1 Chetak Enterprises P. Ltd. vs. ACIT, 2005 95 ITD 1 Jodh.
71 of 2008.
M. KHANWILKAR, J. This appeal takes exception to the judgment and order dated 5.5.2008 passed by the High Court of Judicature for Rajasthan at Jodhpur for short, the High Court in Income Tax Appeal No.
