Can a 'petrol pump' run by a partnership firm be treated as an 'industrial undertaking' in terms of section 54D of the Income Tax Act ?
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Section 54d of the income tax act
Replies (1)
industrial undertaking will mean an undertaking engaged in the business of
1) manufacture or processing of goods or
2) generation or distribution of electricity or any other form of power or
3) mining or
4) construction of ships or
5) operation of ships and crafts
this is present in 10(15)(iv)(f) and 80I.
so petrol pump is not an undertaking....
1) manufacture or processing of goods or
2) generation or distribution of electricity or any other form of power or
3) mining or
4) construction of ships or
5) operation of ships and crafts
this is present in 10(15)(iv)(f) and 80I.
so petrol pump is not an undertaking....
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