Section(s) Referred: s. 10(23G) ,r. 2E ,r. 2E(7)
Statute: INCOME TAX
Date of Issue: 10/5/2000
It is notified for general information that the enterprise/industrial undertaking, listed at para (3) below has been approved by the Central Government for the purpose of section 10(23G) of the Income-tax Act, 1961, read with rule 2E of the Income-tax Rules, 1962, for the asst. yrs. 1999-2000, 2000-2001 and 2001-2002.
2. The approval is subject to the condition that :
(i) the enterprise/industrial undertaking will conform to and comply with the provisions of section 10(23G) of the Income-tax Act, 1961, read with rule 2E of the Income-tax Rules, 1962;
(ii) the Central Government shall withdraw this approval if the enterprise/ industrial undertaking :
(a) ceases to carry on infrastructure facility; or
(b) fails to maintain books of account and get such accounts audited by an accountant as required by sub-rule (7) of rule 2E of the IT Rules, 1962; or
(c) fails to furnish the audit report as required by sub-rule (7) of rule 2E of the Income-tax Rules, 1962.
3. The enterprises/industrial undertakings approved is—6x250MW Nathpa Jhakri Hydroelectric Power Project on River Satluj in Himachal Pradesh by M/s Nathpa Jhakri Power Corporation Ltd., First Floor (Left Wing), Administrative Block, Indira Gandhi Sports Complex, I.P. Estate, New Delhi-110002.
[F. No. 205/2/2000-ITA-II]