Notification: S. O. 525
Section(s) Referred: s. 10(23G)
Statute: INCOME TAX
Date of Issue: 11/2/1999
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 1998-99, 1999-2000 and 2000-2001.
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 enterise:—
(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 list of enterprises approved is as under:—
(i) Telecommunication Service Project in respect of the licence granted to Tata Teleservices Ltd., Jeevan Bharti, Connaught Circus, New Delhi-110 001, by the Department of Telecommunication on 4-11-97 for basic telephone services in Andhra Pradesh (F. No. 205/64/98/ITA-II).
(ii) Power Generation Projects, namely, Tarapur Atomic Power Project, Units 3 and 4—(1000 MW), Maharashtra ; Kaiga Atomic Power Projects, Units 1 and 2—(440 MW), Karnataka and Rajasthan Atomic Power Project, Units 3 and 4—(440 MW), Rajasthan undertaken by Nuclear Power Corporation, 424 and 425 World Trade Centre, Barakhamba Lane, Connaught Place, New Delhi-110001 (F. No. 205/13/98/ITA-II).
(iii) Power Generation Project at Khaparkheda Thermal Power Project (Units 3 and 4) of Maharashtra State Electricity Board for generation of 210 MW Power by each unit at Khaparkheda, Nagpur (F. No. 205/2/98/ITA-II).
(iv) Power Generation Project at Basin Bridge, Chennai, Tamil Nadu, for generation of 4 x 50 MW (200 MW) ; Diesel Engine Power Station of GMR Vasavi Power Corporation Ltd., Bangalore-560 025 (F. No. 205/8/98/ITA-II).
[No. 10793/F. No. 205/64/98-ITA-II]
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