Income tax exemption approval for specified infrastructure undertakings conditioned on compliance, audit obligations, and possible withdrawal. Approval is granted to specified enterprises for income tax exemption under the relevant Act and rule for assessment years 2001-2004, conditional on conformity with statutory eligibility and procedural requirements. The approval requires maintenance of books of account, obtaining and furnishing the prescribed audit report, and continued provision of the infrastructure facility; the Central Government may withdraw approval if the undertaking ceases the facility or fails to maintain audited accounts or furnish the audit report. The notification lists the specific power projects and promoters covered.
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 approval for specified infrastructure undertakings conditioned on compliance, audit obligations, and possible withdrawal.
Approval is granted to specified enterprises for income tax exemption under the relevant Act and rule for assessment years 2001-2004, conditional on conformity with statutory eligibility and procedural requirements. The approval requires maintenance of books of account, obtaining and furnishing the prescribed audit report, and continued provision of the infrastructure facility; the Central Government may withdraw approval if the undertaking ceases the facility or fails to maintain audited accounts or furnish the audit report. The notification lists the specific power projects and promoters covered.
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