Substantial expansion now covers new investments creating additional employment, excluding credit used for debt repayment or existing equipment. The amendment broadens the definition of substantial expansion so that concessions cover new investments by existing entrepreneurs that lead to substantial additional employment without requiring major expansion; however, credit under the Industrial Policy Package must not be used merely to pay off old debts or to finance equipment already in place.
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.
Substantial expansion now covers new investments creating additional employment, excluding credit used for debt repayment or existing equipment.
The amendment broadens the definition of substantial expansion so that concessions cover new investments by existing entrepreneurs that lead to substantial additional employment without requiring major expansion; however, credit under the Industrial Policy Package must not be used merely to pay off old debts or to finance equipment already in place.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
