Section(s) Referred: s. 10(23G) ,r. 2E ,r. 2E(7)
Statute: INCOME TAX
Date of Issue: 2/2/2000
It is notified for general information that the 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 1999-2000, 2000-2001 and 2001-2002.
2. The approval is subject to the condition that :
(i) the enterprise will conform to any 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 :
(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 : Cellular Mobile Telephone Service in Tamilnadu Circle of M/s Aircel Limited, 19 Cathedral Garden Road, Nungambakkam, Chennai-600034, under the licence agreement No. 842-92/97-VAS dt. 22nd May, 1998 between President of India, acting through Director (VAS-I), Department of Telecommunication and M/s Srinivas Cellcom Limited.