Tax exemption approval under section 10(23G) is conditional and may be withdrawn for failure to maintain or audit accounts. Approval under section 10(23G) was granted to M/s Andhra Expressway Ltd for an approved BOT highway project, subject to conformity with the Income tax provision and applicable rule, maintenance of books, audit of accounts as required, and timely submission of the prescribed audit report; the Central Government may withdraw approval if the undertaking ceases the infrastructure activity, fails to maintain and audit accounts, or fails to furnish the audit report.
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Tax exemption approval under section 10(23G) is conditional and may be withdrawn for failure to maintain or audit accounts.
Approval under section 10(23G) was granted to M/s Andhra Expressway Ltd for an approved BOT highway project, subject to conformity with the Income tax provision and applicable rule, maintenance of books, audit of accounts as required, and timely submission of the prescribed audit report; the Central Government may withdraw approval if the undertaking ceases the infrastructure activity, fails to maintain and audit accounts, or fails to furnish the audit report.
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