BUILDERS ASSOCIATIONS OF INDIA vs UNION OF INDIA

The Supreme Court dismissed the writ petition under Article 32 of the Constitution, affirming the interpretation of Section 32-A(2)(b)(iii) of the Income Tax Act, 1961, as established in CIT v. N. C Budharaja & Co. The Court held that the term 'construction' does not encompass immovable properties such as dams, buildings, and roads, but is limited to movable articles, thus maintaining the precedent. The petitioner's request for reconsideration based on unaddressed circumstances was denied, reinforcing the existing legal interpretation.