Section(s) Referred: s. 10(23G) ,r. 2E(7)
Statute: INCOME TAX
Date of Issue: 10/5/2000
It is notified for general information that the 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 1999-2000, 2000-2001 and 2001-2002.
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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 enterprises/industrial undertakings approved is—6 x 250 mw Nathpa Jhakri Hydroelectric Power Project on river Satluj in Himachal Pradesh by Nathpa Jhakri Power Corporation Ltd., First Floor (Left Wing), Administrative Block, Indira Gandhi Sports Complex, I.P. Estate, New Delhi-110 002.
[Notification No. 11358/F. No. 205/2/2000-ITA-II]