Section(s) Referred: s. 10(23G) ,r. 2E ,r. 2E(7)
Statute: INCOME TAX
Date of Issue: 13/7/1999
It is notified for general information that enterprise, 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 1999-2000 and 2000-2001 and 2001-2002.
2. The approval is subject to the condition that :
(i) the enterprise 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 :
(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 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 approved is a project/industrial undertaking by the name of Suratgarh Thermal Power Station (Units I & II of Phase I) of Rajasthan State Electricity Board, Vidyut Bhavan, R.C. Dave Marg, Jaipur—302005.