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Notification No : 265
Date of Issue : 19/9/2002
Section(s) Referred : s. 10(23G)
Notification No. 265 of 2002, dt, 19th Sept., 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 2001-2002, 2002-2003 and 2003-2004.
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) 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–M/s Hughes Telecom (India) Limited, Ispat House, B.G. Kher Marg, Worli, Mumbai-400018 for their project of Basic Telephone Service in Maharashtra Telecom Circle (including Mumbai and Goa) under license agreement No. 17-11/95-BSII dated 30th September, 1997, between President of India, acting through Director (CS), Department of Telecommunication and M/s Hughes Telecom (India) Limited.
[F.No. 205/20/2001-ITA-II]
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