Notification No : 364
Date of Issue : 9/12/2002
Section(s) Referred : s. 10(23G)
Notification No. 364 of 2002, dt. 9th Dec., 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, 1.961, 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) or rule 2E of the Income-tax Rules, 1962.
3. The enterprise/industrial undertaking approved is-M/s BSES Telecom Limited, Internet Service Provider (ISP) Division, E-7, MIDC Area, Andheri (East), Mumbai for providing Internet Services on Dial Up and Broadband Network, (b) Data Centre Facilities, and (c) International Satellite Gateway for data transfer under the license agreement No. 820-328/2000-LR dated 31st May, 2000 between President of India, acting through Asstt. Director General (LR-I), Department of Telecommunication and M/s. BSES Telecom Limited, Mumbai.