Notification No. : 99
Date of Issue : 26/4/2002
Section(s) Referred: s. 10(23g)
[Notification No. S.O. 1713, dated 26th April, 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 undertakings 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 undertakings:
(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/industrial undertaking approved is Sardar Sarovar Narmada Nigam Ltd., Block No. 12, 1st Floor, New Sachvalaya Complex, Gandhinagar-382 010 for their projects, (i) Dam across the Narmada River near Navgam, Gujarat, (ii) Main canal, (iii) Branch canals, (iv) Hydro based Power 1450 mw.
[Notification No. 99/2002/F. No. 205/9/98/ITA. II/Vol. I]
