Deduction under section 80-IB excluded for oil blocks licensed after March 31, 2011, altering eligibility from 2012. The Bill inserts a proviso in section 80-IB(9)(ii) excluding from that clause blocks licensed under contracts awarded after 31 March 2011 under the New Exploration Licencing Policy or under any law or by Central or State Government in any other manner; the amendment is effective from 1 April 2012 and applies to assessment year 2012-2013 and subsequent years.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deduction under section 80-IB excluded for oil blocks licensed after March 31, 2011, altering eligibility from 2012.
The Bill inserts a proviso in section 80-IB(9)(ii) excluding from that clause blocks licensed under contracts awarded after 31 March 2011 under the New Exploration Licencing Policy or under any law or by Central or State Government in any other manner; the amendment is effective from 1 April 2012 and applies to assessment year 2012-2013 and subsequent years.
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