Approval under section 10(23G) grants tax-exempt status to BIAL for specified assessment years subject to compliance. Approval is granted to M/s Bangalore International Airport Limited (BIAL) as an approved enterprise under section 10(23G) read with rule 2E for its Devanahalli international airport project, subject to conformity with those provisions. The approval is conditional on maintaining books of account, obtaining an audit by an accountant and furnishing the required audit report under rule 2E, and is liable to withdrawal if the undertaking ceases to carry on an infrastructure facility or fails to comply with the audit and reporting requirements.
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.
Approval under section 10(23G) grants tax-exempt status to BIAL for specified assessment years subject to compliance.
Approval is granted to M/s Bangalore International Airport Limited (BIAL) as an approved enterprise under section 10(23G) read with rule 2E for its Devanahalli international airport project, subject to conformity with those provisions. The approval is conditional on maintaining books of account, obtaining an audit by an accountant and furnishing the required audit report under rule 2E, and is liable to withdrawal if the undertaking ceases to carry on an infrastructure facility or fails to comply with the audit and reporting requirements.
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 
