Tax deduction exclusion for certain oil and gas blocks licensed under the new exploration policy, changing eligibility for relief. An amendment inserts a proviso to sub section (9)(ii) of 80-IB excluding from that clause blocks licensed under contracts awarded after 31 March 2011 under the New Exploration Licensing Policy of 1999, or licensed pursuant to any law or by the Central or a State Government in any other manner, thereby narrowing the provision's scope; the change is effective from 1 April 2012.
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.
Tax deduction exclusion for certain oil and gas blocks licensed under the new exploration policy, changing eligibility for relief.
An amendment inserts a proviso to sub section (9)(ii) of 80-IB excluding from that clause blocks licensed under contracts awarded after 31 March 2011 under the New Exploration Licensing Policy of 1999, or licensed pursuant to any law or by the Central or a State Government in any other manner, thereby narrowing the provision's scope; the change is effective from 1 April 2012.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.