Tax exemption approval enables infrastructure project benefits for Adani Port, subject to compliance and audit-related withdrawal conditions. Approval is granted to M/s Adani Port Ltd., Shrimali Society for tax exemption under section 10(23G), read with rule 2E, for assessment years 2002-2003 through 2004-2005 for its jetty/wharf and quay project at Navinal Island. The approval is conditional on compliance with the statutory provisions, including maintaining books of account, obtaining an audit as required by the rules, and furnishing the prescribed audit report; the Central Government may withdraw approval if the enterprise ceases the infrastructure activity or fails the audit and reporting requirements.
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Tax exemption approval enables infrastructure project benefits for Adani Port, subject to compliance and audit-related withdrawal conditions.
Approval is granted to M/s Adani Port Ltd., Shrimali Society for tax exemption under section 10(23G), read with rule 2E, for assessment years 2002-2003 through 2004-2005 for its jetty/wharf and quay project at Navinal Island. The approval is conditional on compliance with the statutory provisions, including maintaining books of account, obtaining an audit as required by the rules, and furnishing the prescribed audit report; the Central Government may withdraw approval if the enterprise ceases the infrastructure activity or fails the audit and reporting requirements.
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