Scheme to develop, operate and maintain special economic zones under section 80-IA of Income-tax Act read with rule 18C(2) of Income-tax Rules (From Para 1 to Para 5)
Agreement recognition under tax exemption: permission letter from commerce department qualifies as agreement enabling developers to claim income-tax exemption. Permission letters issued by the Department of Commerce to developers for setting up Special Economic Zones are treated as an Agreement for purposes of claiming the tax exemption available under section 80-IA of the Income-tax Act read with rule 18C(2) of the Income-tax Rules, thereby serving as the operative instrument to satisfy the documentary requirement for the income-tax concession.
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.
Agreement recognition under tax exemption: permission letter from commerce department qualifies as agreement enabling developers to claim income-tax exemption.
Permission letters issued by the Department of Commerce to developers for setting up Special Economic Zones are treated as an Agreement for purposes of claiming the tax exemption available under section 80-IA of the Income-tax Act read with rule 18C(2) of the Income-tax Rules, thereby serving as the operative instrument to satisfy the documentary requirement for the income-tax concession.
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