Notification No : 332
Date of Issue : 29/10/2002
Section(s) Referred : s. 10(23G)
Notification No. 332 of 2002, dt. 29th Oct., 2002
It is notified for general information that enterprise/industrial 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, for the assessment years 2001-2002, 2002-2003 and 2003-2004.
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
(b) fails to furnish the audit report as required by sub-rule (7) or rule 2E of the Income-tax Rules, 1962.
3. The enterprise industrial undertaking approved is–M/s Chennai Container Terminal Limited, Mumbai for their project of development and management of Chennai Container Terminal as per their agreement with the Chennai Port Trust.