Tax incentive for reconstruction of power plants with public-sector majority equity enables eligibility upon government notification and commissioning. Amendment adds clause (v) to section 80-IA granting a tax incentive to undertakings owned by an Indian company set up for reconstruction or revival of a power generating plant, subject to cumulative conditions: formation of the Indian company with majority public sector equity to enforce lenders' security interests; prior notification by the Central Government for this clause; and commencement of generation, transmission or distribution of power before the prescribed commissioning deadline.
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 incentive for reconstruction of power plants with public-sector majority equity enables eligibility upon government notification and commissioning.
Amendment adds clause (v) to section 80-IA granting a tax incentive to undertakings owned by an Indian company set up for reconstruction or revival of a power generating plant, subject to cumulative conditions: formation of the Indian company with majority public sector equity to enforce lenders' security interests; prior notification by the Central Government for this clause; and commencement of generation, transmission or distribution of power before the prescribed commissioning deadline.
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