(9)[ The amount of deduction to an undertaking shall be hundred per cent. of the profits for a period of seven consecutive assessment years, including the initial assessment year, if such undertaking fulfills any of the following, namely:-(i)is located in North-Eastern Region and has begun or begins commercial production of mineral oil before the 1st day of April, 1997;(ii)is located in any part of India and has begun or begins commercial production of mineral oil on or after the 1st day of April, 1997;(iii)is engaged in refining of mineral oil and begins such refining on or after the 1st day of October, 1998 ][but not later than the 31st day of March, 2012] [ Inserted by Act 33 of 2009, Section 37 (w.r.e.f. 1.4.2009).];(iv)[ is engaged in commercial production of natural gas in blocks licensed under the VIII Round of bidding for award of exploration contracts (hereafter referred to as "NELP-VIII") under the New Exploration Licencing Policy announced by the Government of India vide Resolution No. O-19018/22/95-ONG.DO.VL, dated 10th February, 1999 and begins commercial production of natural gas on or after the 1st day of April, 2009; [ Inserted by Act 33 of 2009, Section 37 (w.r.e.f. 1.4.2010).](v)is engaged in commercial production of natural gas in blocks licensed under the IV Round of bidding for award of exploration contracts for Coal Bed Methane blocks and begins commercial production of natural gas on or after the 1st day of April, 2009.][Explanation. - For the purposes of claiming deduction under this sub-section, all blocks licensed under a single contract, which has been awarded under the New Exploration Licencing Policy announced by the Government of India vide Resolution No. O-19018/22/95-ONG.DO.VL, dated 10th February, 1999 or has been awarded in pursuance of any law for the time being in force or has been awarded by the Central or a State Government in any other manner, shall be treated as a single "undertaking".] [Substituted by Act 33 of 2009, Section 37 (w.r.e.f. 1.4.2000).]
