Tax approval for infrastructure enterprises enables specified projects to claim exemption subject to compliance and audit requirements. Notification approves specified enterprises as eligible for income tax exemption as infrastructure undertakings for the stated assessment years, conditional on conformity with the exemption provision and associated rule; the Central Government may withdraw approval if the undertaking stops carrying on the infrastructure facility, fails to maintain and audit books of account, or fails to furnish the required audit report. Listed approved projects include a road improvement on a BOT basis by a private company and specified thermal power stages of a state power generation corporation.
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 approval for infrastructure enterprises enables specified projects to claim exemption subject to compliance and audit requirements.
Notification approves specified enterprises as eligible for income tax exemption as infrastructure undertakings for the stated assessment years, conditional on conformity with the exemption provision and associated rule; the Central Government may withdraw approval if the undertaking stops carrying on the infrastructure facility, fails to maintain and audit books of account, or fails to furnish the required audit report. Listed approved projects include a road improvement on a BOT basis by a private company and specified thermal power stages of a state power generation corporation.
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 
