Notification No : 115
Section(s) Referred : section 10(23G)
Date of Issue : 23/3/2004
Notification No. 115 of 2004, dt. 23rd Mar., 2004
It is notified for general information that the enterprise/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 with effect from the Asstt. Year 2002-03.
2. The approval is subject to the conditions that –
(i) the enterprise/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/undertaking:-
(a) Ceases to carry on the eligible business as defined in Explanation (b) to Rule 2E of I.T. Rules, 1962; or
(b) Fails to maintain books of account and get such accounts audited by an accountant as required by sub-rule (6) of rule 2E of the Income-tax Rules, 1962; or
(c) Fails to furnish the audit report as required by sub-rule (6) of rule 2E of the Income-tax Rules. 1962.
3. The enterprise/undertaking approved is –
M/s PPN Power Generating Company Limited, III Floor, Jhaver Plaza, 1-A, Nungambakkam High Road, Chennai-600034 for their 330.5 MW Combined Cycle Gas Turbine Power Project at Pillaiperumalnallur in Tamil Nadu.