Notification: 1793
Section(s) Referred: s. 10(23G) ,r. 2E(7)
Statute: INCOME TAX
Date of Issue: 25/7/2000
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 2000-2001, 2001-2002 and 2002-2003.
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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 construction of thirteen roads at Indore City under BOT basis by Indore Development Fund Ltd., C/o. MPFC Capital Markets, Navaratan Bagh, opp. St. Paul School (Primary Section), Indore-452 001, under the agreement dated 26-4-2000 between Government of Madhya Pradesh, Indore Municipal Corporation and Indore Development Fund Ltd.
[Notification No. 11450/F. No. 205/196/99-ITA-II]

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