Notification No. 11575/2000-Income Tax Dated 22/12/2000

Notification: 11575
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 enterprise/industnal 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 2000-2001, 2001-2002 and 2002-2003.

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 undertakings approved is—Electric Transmission Project comprising of (a) Installation of Tamper Proof Meter, (b) New distribution net work project in Cyclone affected area, (c) Scheme for demand side Management to reduce losses in distribution network, and (d) Energy audit to reduce theft of power in distribution network by M/s Central Electricity Supply Company of Orissa Ltd. IDCO Towers, 2nd Floor, Janpath, Bhubaneshwar-751022 (F. No. 205/12/2000-ITA-II).

[F. No. 205/12/2000-ITA-II]