Tax exemption approval under income-tax provisions granted to Reliance Telecom, subject to compliance and audit conditions. Central Government granted an income-tax exemption approval to Reliance Telecom Limited for specified assessment years in respect of telecommunication service projects and licences, conditional on continued operation as an infrastructure facility and compliance with income-tax rules, including maintenance of books of account, audit by a qualified accountant and furnishing the prescribed audit report; the Government may withdraw approval if the enterprise ceases infrastructure operations or fails to maintain or audit accounts or supply the audit report.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption approval under income-tax provisions granted to Reliance Telecom, subject to compliance and audit conditions.
Central Government granted an income-tax exemption approval to Reliance Telecom Limited for specified assessment years in respect of telecommunication service projects and licences, conditional on continued operation as an infrastructure facility and compliance with income-tax rules, including maintenance of books of account, audit by a qualified accountant and furnishing the prescribed audit report; the Government may withdraw approval if the enterprise ceases infrastructure operations or fails to maintain or audit accounts or supply the audit report.
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