Eligibility of deduction u/s 801A for the unexpired period - reg.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ection 80IA of the Income-tax Act 1961 (hereafter referred to as 'Act') deals with deduction in respect of profits & gains derived by an undertaking or enterprise engaged in developing, operating and maintaining any infrastructure facility, industrial park etc. The undertakings or enterprises eligible for availing deduction under this section have been specified under sub-section (4) of th....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... are necessary to be met for being eligible for deduction. These include conditions prescribed under sub-section (3) of section 80-IA according to which the undertaking at (ii) and (iv) above should not, inter-alia, be formed by splitting up or reconstruction of an existing business. 3. The proviso to clause (1) and clause (iii) of sub-section (4) of section 801A deal with the situation where o....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r reconstruction of a business already in existence (b) transfer is in accordance with the proviso to clause (i) or clause (iii) of sub-section (4) of section 80-1A, or (c) transfer of an enterprise or undertaking is in a scheme of amalgamation or demerger. It is however clarified that if an enterprise or undertaking develops an infrastructure facility, industrial park or special economic zone, as....