Approval under section 10(23G) requires ongoing infrastructure operation and audited accounts to retain tax-exempt status. Approval under section 10(23G) was granted to M/s Sterling Cellular Limited for assessment years 2002-2005 for its cellular mobile telephone project in the Delhi region, conditional on conformity with the Income-tax Act and Rules, maintenance of books of account, audit by an accountant, and furnishing the prescribed audit report; the Central Government may withdraw approval if the undertaking ceases the infrastructure activity or fails 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) requires ongoing infrastructure operation and audited accounts to retain tax-exempt status.
Approval under section 10(23G) was granted to M/s Sterling Cellular Limited for assessment years 2002-2005 for its cellular mobile telephone project in the Delhi region, conditional on conformity with the Income-tax Act and Rules, maintenance of books of account, audit by an accountant, and furnishing the prescribed audit report; the Central Government may withdraw approval if the undertaking ceases the infrastructure activity or fails 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 
