Electricity Distribution Company's Deduction Claim Denied: Clarifying "Substantial Renovation and Modernization" u/s 80-IA(4)(iv)(c) Explanation.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Denial of claim of deduction u/s 80-IA(4)(iv)(c) - assessee is an electricity distribution company - the expression “undertakes substantial renovation and modernisation” cannot be read in isolation and has to be read along with Explanation to section 80-IA(4)(iv)(c) - AT....