Approval under section 10(23G) confirms tax-exempt eligibility subject to compliance, audit obligations and withdrawal on noncompliance. Approval for Sardar Sarovar Narmada Nigam Ltd. confers tax-exemption eligibility for specified assessment years subject to conformity with the Income-tax Act and the income-tax rules; maintenance of books of account, audit by an accountant, and furnishing of the audit report are ongoing conditions, and the Central Government may withdraw approval if the enterprise ceases infrastructure operations or fails to meet the accounting or audit obligations.
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) confirms tax-exempt eligibility subject to compliance, audit obligations and withdrawal on noncompliance.
Approval for Sardar Sarovar Narmada Nigam Ltd. confers tax-exemption eligibility for specified assessment years subject to conformity with the Income-tax Act and the income-tax rules; maintenance of books of account, audit by an accountant, and furnishing of the audit report are ongoing conditions, and the Central Government may withdraw approval if the enterprise ceases infrastructure operations or fails to meet the accounting or audit obligations.
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