Income-tax exemption under section 10(23G) approved for infrastructure enterprises, subject to audit, books and compliance conditions. Approval is granted to specified enterprises for the Income-tax Act exemption applicable to infrastructure activities for assessment years 1999-2002, conditional on conformity with the statutory exemption provisions and implementing rules. The approval is revocable if an approved enterprise ceases infrastructure operations, fails to maintain books and obtain an auditor's audit under the implementing rule, or fails to furnish the required audit report; listed approved undertakings include specified power projects and a cellular mobile service.
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.
Income-tax exemption under section 10(23G) approved for infrastructure enterprises, subject to audit, books and compliance conditions.
Approval is granted to specified enterprises for the Income-tax Act exemption applicable to infrastructure activities for assessment years 1999-2002, conditional on conformity with the statutory exemption provisions and implementing rules. The approval is revocable if an approved enterprise ceases infrastructure operations, fails to maintain books and obtain an auditor's audit under the implementing rule, or fails to furnish the required audit report; listed approved undertakings include specified power projects and a cellular mobile service.
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