Section(s) Referred: s. 10(23G) ,r. 2E(7)
Statute: INCOME TAX
Date of Issue: 16/1/2001
It is notified for general information that enterprises/industrial undertakings, listed at para (3) below have 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
(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) 3MW Lodhana Hydro Electric Project in the district of Darjeeling, West Bengal by M/s Nippon Power Ltd., 10A, Jackson Lane, Calcutta—700001 (F. No. 205/60/2000-ITA-II).
(ii) Cellular Mobile Telephone Service in Chennai of M/s RPG Cellular Services Limited, 5th Floor, Spencer Plaza, 769, Anna Salai, Chennai, under the license agreement No. 842-21/93-TM dated 30th November, 1994 between President of India, acting through Director (TM-I), Department of Telecommunication and M/s Mobile Telecom Service Limited (F. No. 205/56/2000-ITA-II)
(iii) 126 MW Larji Hydro Electric Project and 22.5 MW Ghanvi Hydro Electric Project at Himachal Pradesh of M/s Himachal Pradesh State Electricity Board, Vidyut Bhawan, Shimla-4 (F. No. 205/137/99-ITA-II)
[F. No. 205/60/2000-ITA-II & Ors.]