Notification No : 346
Date of Issue : 21/11/2002
Section(s) Referred : s. 10(23G)
Notification No. 346 of 2002, dt. 21st Nov., 2002.
It is notified for general information that 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 assessment years 2002-2003, 2003-2004 and 2004-2005.
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) fads to maintain books of account and get such accounts audited by an accountant as required by sub-rule (7) of rule 2E of the Income-tax 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 enterprise/industrial undertaking approved is–M/s Power Grid Corporation of India Ltd., Hemkunt Chamber, 89, Nehru Place, New Delhi–110019 for their project of Tehri Hydro Electric Project associated transmission system.