NOTIFICATION NO. 52/2005, DATED 11-2-2005

It is notified for general information that the enterprise/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 with effect from the Asstt. Year 2003-2004 to Assessment Year 2017-2018 (upto 15.11.2016) i.e. the end of lease period of 14 years as specified in agreement dated 02.03.2000 between Commissioner, Alandur Municipality, Alandur and IVRCL Infrastructure & Projects Limited and agreement dated 03.05.2001 between IVRCL Infrastructure & Projects Ltd and M/s First STP Pvt. Ltd and letter dated 08.05.2001 from the Commissioner, Alandur Municipality, Alandur or earlier in the event of violation of the terms of the agreements 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 defined in Explanation (b) to Rule 2E of I.T. Rules, 1962; or

(b)  fails to maintain books of account and get such accounts audited by an accountant as required by sub-rule (6) of rule2E of the Income-tax 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 First STP Pvt. Ltd, Door No.9, Plot No.16, Mancholai 1st Main Road, Kalaimangal Nagar, Ekkathuthangal, Chennai-600097 for their project of Construction, operation and mainteance of sewage treatment plant for Alandur Municipality as per agreement dated 02.03.2000 between Commissioner, Alandur Municipality, Alandur and IVRCL Infrastructure & Projects Limited and agreement dated 03.05.2001 between IVRCL Infrastructure & Projects Ltd and M/s First STP Pvt. Ltd and letter dated 08.05.2001 from the Commissioner, Alandur Municipality, Alandur.(F. No 205/41/2004 – ITA-II).

[F.NO.205/41/2004/ITA.II]

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