Notification: 11113
Section(s) Referred: s. 10(23G) ,r. 2E(7)
Statute: INCOME TAX
Date of Issue: 1/11/1999
It is notified for general information that the enterprise, 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 year 2000-2001.
2. The approval is subject to the condition that :
(i) the enterprise 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 :
(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;
(d) fails to comply with the conditions prescribed by the Department of Telecommunication, Ministry of Communication vide their letter No. 8401/97/VAS/ Vol. III dated 23rd August, 1999.
3. The enterprise approved is—Global Mobile Personal Communication by Satellite Service by M/s ASC Enterprises Limited, Ajanta Business Centre, 8, Juhu Tara Road, Mumbai-400 049, under the offer of provisional license by the Department of Telecommunication, Ministry of Communication vide their letter No. 840-1/97/VAS/Vol. III dated 23rd August, 1999.
[F. No. 205/79/99-ITA-II]
