(4)This section applies to-(i)any enterprise carrying on the business [of (i) developing or (ii) operating and maintaining or (iii) developing, operating and maintaining] [ Substituted by Act 14 of 2001, Section 44, for " of (i) developing, (ii) maintaining and operating or (iii) developing, maintaining and operating" (w.e.f. 1.4.2002).] any infrastructure facility which fulfills all the following conditions, namely:-(a)it is owned by a company registered in Indian or by a consortium of such companies [or by an authority or a board or a corporation or any other body established or constituted under any Central or State Act] [ Inserted by Act 18 of 2005, Section 26 (w.e.f. 1.4.2006).];(b)[ it has entered into an agreement with the Central Government or a State Government or a local authority or any other statutory body for (i) developing or (ii) operating and maintaining or (iii) developing, operating and maintaining a new infrastructure facility; ] [ Substituted by Act 14 of 2001, Section 44, for sub-Clause (b) (w.e.f. 1.4.2002).](c)it has started or starts operating and maintaining the infrastructure facility on or after the 1st day of April, 1995:Provided that where an infrastructure facility is transferred on or after the 1st day of April, 1999 by an enterprise which developed such infrastructure facility (hereafter referred to in this section as the transferrer enterprise) to another enterprise (hereafter in this section referred to as the transferee enterprise) for the purpose of operating and maintaining the infrastructure facility on its behalf in accordance with the agreement with the Central Government, State Government, local authority or statutory body, the provisions of this section shall apply to the transferee enterprise as if it were the enterprise to which this clause applies and the deduction from profits and gains would be available to such transferee enterprise for the unexpired period during which the transferor enterprise would have been entitled to the deduction, if the transfer had not taken place.[Explanation. - For the purposes of this clause, "infrastructure facility" means-(a)a road including toll road, a bridge or a rail system;(b)a highway project including housing or other activities being an integral part of the highway project;(c)a water supply project, water treatment system, irrigation project, sanitation and sewerage system or solid waste management system;(d)a port, airport, inland waterway][, inland port or navigational channel in the sea] [ Substituted by Act 22 of 2007, Section 28, for " or inland port" (w.e.f. 1.4.2008).]; ](ii)[ any undertaking which has started or starts providing telecommunication services, whether basic or cellular, including radio paging, domestic satellite service, network of trunking, broad-band network and internet services on or after the 1st day of April, 1995, but on or before the [31st day of March, 2005] [ Substituted by Act 14 of 2001, Section 44, for Clause (ii) (w.e.f. 1.4.2001).].]Explanation. - For the purposes of this clause, "domestic satellite" means a satellite owned and operated by an Indian company for providing telecommunication service;(iii)any undertaking which develops, develops and operates an maintains and operates an industrial park [or special economic zone] [ Inserted by Act 14 of 2001, Section 44 (w.e.f. 1.4.2002).] notified by the Central Government in accordance with the scheme framed and notified by that Government for the period beginning on the 1st day of April, 1997 and ending on [the 31st day of March, 2006] [ Substituted by Act 14 of 2001, Section 44, for " 31st day of March, 2002" (w.e.f. 1.4.2001).]:[Provided that in a case where an undertaking develops an industrial park on or after the 1st day of April, 1999 or a special economic zone on or after the 1st day of April, 2001 and transfers the operation and maintenance of such industrial park or such special economic zone, as the case may be, to another undertaking (hereafter in this section referred to as the transferee undertaking), the deduction under sub-section (1) shall be allowed to such transferee undertaking for the remaining period in the ten consecutive assessment years as if the operation and maintenance were not so transferred to the transferee undertaking:] [ Substituted by Act 32 of 2003, Section 38, for the proviso (w.r.e.f. 1.4.2002).][Provided further that in the case of any undertaking which develops, develops and operates or maintains and operates an industrial park, the provisions of this clause shall have effect as if for the figures, letters and words "31st day of March, 2006", the figures, letters and words ] [ Inserted by Act 21 of 2006, Section 18 (w.e.f. 1.4.2007).][the 31st day of March, 2011] [ Substituted by Act 33 of 2009, Section 36, for " the 31st day of March, 2009" (w.e.f. 1.4.2009).][had been substituted; ] [ Inserted by Act 21 of 2006, Section 18 (w.e.f. 1.4.2007).][ Substituted by Act 14 of 2001, Section 44, for the Explanation (w.e.f. 1.4.2002).](iv)an [undertaking] [ Substituted by Act 14 of 2001, Section 44, for " industrial undertaking" (w.e.f. 1.4.2002).] 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 ] [ Substituted by Act 14 of 2001, Section 44, for certain words (w.e.f. 1.4.2002).][the 31st day of March, 2011.] [ Substituted by Act 33 of 2009, Section 36, for " the 31st day of March, 2010" (w.e.f. 1.4.2009).](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 the 31st day of March, 2011:Provided that the deduction under this section to an [undertaking] [ Substituted by Act 14 of 2001, Section 44, for certain words (w.e.f. 1.4.2002).] 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;(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 ] [Inserted by Act 23 of 2004, Section 17 (w.e.f. 1.4.2005).][the 31st day of March, 2011] [[ Substituted by Act 33 of 2009, Section 36, for " the 31st day of March,</p>[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;] [Inserted by Act 23 of 2004, Section 17 (w.e.f. 1.4.2005).](v)[ an undertaking owned by an Indian company and set up for reconstruction or revival of a power generating plant, if- [ Inserted by Act 55 of 2005, Section 5 (w.e.f. 1.4.2006).](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 the ][31st day of March, 2011] [ Substituted by Act 33 of 2009, Section 36, for " 31st day March, 2010" (w.r.e.f. 1.4.2008).].][* * *] [ Clause (vi) omitted by Act 33 of 2009, Section 36 (w.e.f. 1.4.2010).]
