Notification No : 272
Section(s) Referred : Section 10
Date of Issue : 1/11/2004
Notification No. 272 of 2004, dt. 1st Nov., 2004
Income Tax Notification No: 272 (01-Nov-04) Renewal of Approval to enterprise/undertaking by the Central Government
It is notified for general information that approval to the enterprise/undertaking, listed at para (3) below has been renewed 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 Assessment Year 2004-05 to (Assessment Year 2010-2011 (upto 28.11.2009) i.e. end of period of 15 years as mentioned in the Lease deed dt. 22.10.1999 entered into with the Board of Trustees ofJawaharlal Nehru Port Trust, Sheva, New Mumbai-400 707, or earlier in the event of violation of terms of the lease deed as aforesaid.
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 denned in Explanation (b) to Rule 2E of I.T. 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 Viraj Agro Products Pvt. Ltd, 86, West Peiraswamy Road, R.S. Pur-am, Coimbatore-641 002 for their project of developing, maintaining and operating of bulk liquid storage terminal at Jawaharlal
Nehru Port, Sheva, New Mumbai under the agreement dated 22.10.1999 between M/s Viraj Agro Products Pvt. Ltd. and the Board of trustees of Jawaharlal Nehru Port Trust, Sheva, New Mumbai-400 707.