Section 80IA(4)(ii): Expansion of Telecommunication Service does not constitute a new undertaking

PCIT Vs Verizone Communications India Pvt. Ltd. (Delhi High Court) Introduction: The Delhi High Court, in the case of PCIT vs. Verizon Communications India Pvt. Ltd., clarified the interpretation of Section 80IA(4)(ii) of the Income Tax Act, 1961. The case revolves around the eligibility of a telecommunication service provider, Verizon Communications India Pvt. Ltd., to claim deductions under Section 80IA for the Assessment Year 2011-12. Background: Verizon Communications India Pvt. Ltd., incorporated in 2002, provided telecommunication services, including internet services. In 2008, it acqu...