Income Tax Act, 2025
Section 9: Subs. by Act 21 of 2006, s. 18, for the proviso (w.e.f. 12007).
9. Subs. by Act 21 of 2006, s. 18, for the proviso (w.e.f. 12007).
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figures, letters and words “31st day of March, 2006”, the figures, letters and words 1[31st day of
March, 2011] had been substituted;]
(iv) an 2[undertaking] which,—
(a) is set up in any part of India for the generation or generation and distribution of power if
it begins to generate power at any time during the period beginning on the 1st day of April, 1993
and ending on 3[the 31st day of March, 2017];
(b) starts transmission or distribution by laying a network of new transmission or
distribution lines at any time during the period beginning on the 1st day of April, 1999 and
ending on 3[the 31st day of March, 2017]:
Provided that the deduction under this section to an 2[undertaking] under sub-clause (b) shall be
allowed only in relation to the profits derived from laying of such network of new lines for transmission
or distribution;
4[(c) undertakes substantial renovation and modernisation of the existing network of transmission
or distribution lines at any time during the period beginning on the 1st day of April, 2004 and ending
on 3[the 31st day of March, 2017].
Explanation.—For the purposes of this sub-clause, “substantial renovation and modernisation” means
an increase in the plant and machinery in the network of transmission or distribution lines by at least fifty
per cent of the book value of such plant and machinery as on the 1st day of April, 2004;]
5[(v) an undertaking owned by an Indian company and set up for reconstruction or revival of a
power generating plant, if—
(a) such Indian company is formed before the 30th day of November, 2005 with majority
equity participation by public sector companies for the purposes of enforcing the security
interest of the lenders to the company owning the power generating plant and such Indian
company is notified before the 31st day of December, 2005 by the Central Government for the
purposes of this clause;
(b) such undertaking begins to generate or transmit or distribute power before 6[the 31st day
of March, 2011];]
7* * * * *
(5) Notwithstanding anything contained in any other provision of this Act, the profits and gains of an
eligible business to which the provisions of sub-section (1) apply shall, for the purposes of determining
the quantum of deduction under that sub-section for the assessment year immediately succeeding the
initial assessment year or any subsequent assessment year, be computed as if such eligible business were
the only source of income of the assessee during the previous year relevant to the initial assessment year
and to every subsequent assessment year up to and including the assessment year for which the
determination is to be made.
an 2[undertaking] which,—
is set up in any part of India for the generation or generation and distribution of power if
it begins to generate power at any time during the period beginning on the 1st day of April, 1993
and ending on 3[the 31st day of March, 2017];
starts transmission or distribution by laying a network of new transmission or
distribution lines at any time during the period beginning on the 1st day of April, 1999 and
ending on 3[the 31st day of March, 2017]:
Provided that the deduction under this section to an 2[undertaking] under sub-clause
shall be
allowed only in relation to the profits derived from laying of such network of new lines for transmission
or distribution;
4[
undertakes substantial renovation and modernisation of the existing network of transmission
or distribution lines at any time during the period beginning on the 1st day of April, 2004 and ending
on 3[the 31st day of March, 2017].
Explanation.—For the purposes of this sub-clause, “substantial renovation and modernisation” means
an increase in the plant and machinery in the network of transmission or distribution lines by at least fifty
per cent of the book value of such plant and machinery as on the 1st day of April, 2004;]
5[
an undertaking owned by an Indian company and set up for reconstruction or revival of a
power generating plant, if—
such Indian company is formed before the 30th day of November, 2005 with majority
equity participation by public sector companies for the purposes of enforcing the security
interest of the lenders to the company owning the power generating plant and such Indian
company is notified before the 31st day of December, 2005 by the Central Government for the
purposes of this clause;
such undertaking begins to generate or transmit or distribute power before 6[the 31st day
of March, 2011];]
7* * * * *
Notwithstanding anything contained in any other provision of this Act, the profits and gains of an
eligible business to which the provisions of sub-section
apply shall, for the purposes of determining
the quantum of deduction under that sub-section for the assessment year immediately succeeding the
initial assessment year or any subsequent assessment year, be computed as if such eligible business were
the only source of income of the assessee during the previous year relevant to the initial assessment year
and to every subsequent assessment year up to and including the assessment year for which the
determination is to be made.