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 undertakings, listed at para (3) below have 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. 2000-2001, 2001-2002 and 2002-2003.
2. The approval is subject to the condition that :
(i) the 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 IT Rules, 1962;
(ii) the undertaking will confirm to and comply with the terms and conditions and other matters connected or incidental thereto mentioned in the annexure to Notification No 11291, dated 28th March, 2000/11267, dated 14th March, 2000 [published at (2000) 159 CTR (St) 202 and (2000) 159 CTR (St) 161 respectively]; issued by Central Board of Direct Taxes; Department of Revenue, Ministry of Finance, Government of India;
(iii) 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 undertakings approved are:
(i) Development, maintenance and operation of industrial park at Wise Park Pudussery Village, New Industrial Development Area, Kanjikode (P.O.), Palakkad, Kerala, by M/s Western India Kinfra Ltd. 5/871, Kuppiyode Road, Chandranagar (P.O.), Palakkad-678007 (F. No. 205/29/2000-ITA-II).
(ii) Development, maintenance and operation of industrial park at International Tech Park, Whitefield Road, Bangalore, Karnataka by M/s Information Technology Park Ltd., Whitefield Road, Bangalore-560066. (F. No. 205/187/99-ITA-II)
[F. No. 205/29/2000 ITA-II & Or.]