Section(s) Referred: s. 10(23G) ,r. 2E ,r. 2E(7)
Statute: INCOME TAX
Date of Issue: 1/2/2000
It is notified for general information that undertaking, listed at para (3) below have 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 2000-2001, 2001-2002 and 2002-2003.
2. The approval is subject to the conditions that :
(i) the undertaking will conform to and comply with the provisions of section 10(23G) of the IT Act, 1961 read with rule 2E of the Income-tax Rules, 1962 ;
(ii) the undertaking will conform to and comply with the terms and conditions and other matters connected or incidental thereto mentioned in the annexure to Notification No. 11174 dt. 20th Dec., 1999 [published at (2000) 158 CTR (St) 13], issued by Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India.
(iii) 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 Income-tax Rules, 1962.
3. The undertakings approved is—development, maintenance and operation of Agro and Food Processing Industrial Park at 5Km Milestone, Masuri Gulawati Road, District Ghaziabad, Uttar Pradesh, by M/s Wise Industrial Park Limited, 23, Basant Lok, Vasant Vihar, New Delhi-110057.
[F.No. 205/84/99 ITA-II]