Tax exemption approval for satellite mobile infrastructure may be withdrawn for failure to audit, maintain accounts, or meet licensing conditions. Approval is granted to the specified enterprise to qualify under the tax exemption provision for infrastructure undertakings subject to compliance with the Income-tax Act and rules, including maintaining books of account, obtaining an audit as required, and furnishing the audit report. The Central Government may withdraw approval if the enterprise ceases the infrastructure activity, fails to maintain or audit accounts or to furnish the audit report, or fails to comply with conditions imposed by the telecommunications licensing authority.
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Tax exemption approval for satellite mobile infrastructure may be withdrawn for failure to audit, maintain accounts, or meet licensing conditions.
Approval is granted to the specified enterprise to qualify under the tax exemption provision for infrastructure undertakings subject to compliance with the Income-tax Act and rules, including maintaining books of account, obtaining an audit as required, and furnishing the audit report. The Central Government may withdraw approval if the enterprise ceases the infrastructure activity, fails to maintain or audit accounts or to furnish the audit report, or fails to comply with conditions imposed by the telecommunications licensing authority.
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