Notification No : 117
Date of Issue : 23/5/2002
Section(s) Referred : s. 10(23g)
Notification No. 117 of 2002, dt. 23rd May, 2002
It is notified for general information that 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 2001-2002, 2002-2003 and 2003-2004.
2. The approval is subject to the condition that–
(i) the enterprise 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:
(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 approved is–developing, maintaining and operating bulk liquid storage terminals at Jawahar Lal Nehru Port by M/s Viraj Agro Products (P) Ltd., 76, C.P. Ramasamy Road, Alwarpet, Chennai-600018, under the agreement, dt. 22nd October, 1999, between M/s Viraj Agro Products (P) Ltd. and the trustees of the Port of Jawahar Lal Nehru Port.