Section(s) Referred: s. 10(23G) ,r. 2E ,r. 2E(7)
Statute: INCOME TAX
Date of Issue: 11/4/2000
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 enterprises/industrial undertakings approved are :
(i) Construction of a railway over bridge at level crossing No. 115/AA near Dera Bassi on Ambala Kalka Section of Northern Railway crossing Ambala Kalka Road (NH-22) under BOT scheme by R.S. Infrastructure Limited, 19, SCO, Feroze Gandhi Market, Ludhiana, under the agreement dated 8-9-99 between Government of India, Government of Punjab and R. S. Builders and Engineers Ltd. (F. No. 205/10/2000-ITA-II).
(ii) 290 mw. (ISO) Phase-II, expansion of the existing gas based combined cycle power project at Jegurupadu, Andhra Pradesh of GVK Industries Limited, Kohinoor, Road No. 1, Banjara Hills, Hyderabad-500 034 (F. No. 205/36/98-ITA-II, Vol. II).
[Notification No. 11318/F. No. 205/10/2000-ITA-II]