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TMI BlogEligibility of deduction u/s 801A for the unexpired period - reg.X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 the said s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which 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 situati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n splitting up or 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ons (5) to (10) of section 80-1A of the Act . 6. This may be brought to the notice of all concerned. 7. Hindi version to follow. F. No. 178/84/2012/ITA.I (Deepshikha Sharma) Deputy Secretary to the Govt. of India - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TM ..... X X X X Extracts X X X X X X X X Extracts X X X X
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