Section(s) Referred: s. 10(23G) ,r. 2E(7)
Statute: INCOME TAX
Date of Issue: 22/12/2000
It is notified for general information that enterprises/industrial undertakings, 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 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 enterprises/industrial undertakings approved are :
(i) 9MW Harangi Mini Hydel Electric Project at Distt. Kodagu, Karnataka by M/s Energy Development Company Ltd., 21-D, 1st Cross, 1st Floor, Jayalakshmipuran, Mysore-570012 (F. No. 205/68/2000-ITA-II)
(ii) 37.8 MW Power Plant at Gurrampalem Village, Pendurty Mangal, Vishkhapatnam Distt. Andhra Pradesh by M/s LVS Power Limited, 8-2-293/174/13, B.N. Reddy Colony, Road No. 14, Banjara Hills, Hyderabad-500034 (F. No. 205/59/2000-ITA-II).
[F. No. 205/68/2000-ITA-II & 205/59/2000-ITA-II]