Deduction under section 80-IA: transferee allowed remaining deduction when operation and maintenance of eligible parks or zones are transferred. The amendment limits qualifying activity in sub section (2) to development of a special economic zone and substitutes two provisions in sub section (4): one extending a terminal date by substitution, and a substituted proviso providing that where an undertaking develops an industrial park or special economic zone and transfers operation and maintenance to a transferee undertaking, the deduction under sub section (1) is allowed to the transferee for the remaining period of the ten consecutive assessment years as if no transfer occurred.
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-IA: transferee allowed remaining deduction when operation and maintenance of eligible parks or zones are transferred.
The amendment limits qualifying activity in sub section (2) to development of a special economic zone and substitutes two provisions in sub section (4): one extending a terminal date by substitution, and a substituted proviso providing that where an undertaking develops an industrial park or special economic zone and transfers operation and maintenance to a transferee undertaking, the deduction under sub section (1) is allowed to the transferee for the remaining period of the ten consecutive assessment years as if no transfer occurred.
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