Industrial Undertaking - Definition / Legal Terminology - Income Tax

Explanation 1.- For the purposes of sub-clause (15) of section 10 of the Income tax Act 1961, the expression Industrial Undertaking means any undertaking which is engaged in- (a) the manufacture or processing of goods; or (aa) the manufacture of computer software or recording of programme on any disc, tape, perforated media or other information device; or (b) the business of generation or distribution of electricity or any other form of power; or (ba) the business of providing telecommunication services; or (c) mining; or (d) the construction of ships; or (da) the business of ship-breaking; or (e) the operation of ships or aircrafts or construction or operation of rail systems . For the purposes of section 72A(7)(aa) of the Income tax Act 1961. Industrial Undertaking means any undertaking which is engaged in- (i) the manufacture or processing of goods; or (ii) the manufacture of computer software; or (iii) the business of generation or distribution of electricity or any other form of power; or (iiia) the business of providing telecommunication services, whether basic or cellular, including radio paging, domestic satellite service, network of trunking, broadband network and internet services; or (iv) mining; or (v) the construction of ships, aircrafts or rail systems;