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Notification No. : 349

Date of Issue : 22/11/2002

Section(s) Referred :  s. 10(23G)

Notification No. 349 of 2002, dt 22nd Nov., 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 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/industrial undertaking approved is-M/s Spice Communication Limited, 13th Floor, Modicorp Tower, 98, Nehru Place, New Delhi-110019 (formerly M/s Modicom Network Ltd., Delhi) for their project of providing cellular services in the State of Punjab and Karnataka as per license agreement Nos. 842-65(B) 95-VAS (Punjab Circle) dated 9th September, 1996 and 842-53(A) 95-VAS (Karnataka Circle) dated 9th September, 1996.

F.No.205/49/2001-ITA-II]

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