Notification No. 196/2002-Income Tax Dated 1/8/2002

Notification No. : 196

Date of Issue : 1/8/2002

Section(s) Referred  : s. 10(23g)

Notification No. 196 of 2002, dt. 1st Aug., 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 2002-2003, 2003-2004, and 2004-2005.

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 approved is–M/s. Nhava Sheva International Container Terminal Ltd., Mumbai for their project of construction of a new 600 quay length container terminal at Navi Mumbai.

[F.No. 205/53/2001-ITA-II]