Section(s) Referred: s. 10(23G) ,r. 2E ,r. 2E(7)
Statute: INCOME TAX
Date of Issue: 1/11/1999
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, 1999-2000, 2000-2001 and 2001-2002.
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 Railway Over Bridge on NII-6 near village Nashirabad, District Jalgaon, Maharashtra on Build Operate Transfer Basis by M/s Ashoka Vastuship Private Limited, 1/2, River View, Gharpure Ghat, Ashok Stambha, Nasik-422 002, on the basis of the agreement dated 16th November, 1998, amongst Government of India, Government of Maharashtra, Ashoka Buildcon Private Limited and Ashoka Vastuship Private Ltd. (F.No. 205/110/99-ITA-II)
(ii) Cellular Mobile Telephone Service Project in Gujarat Circle of M/s Fascel Limited, 6th Floor, Sakar II, Ellisbridge, Ahmedabad-380 006, as per license agreement No 842-58(B)95-VAS dated 11th January, 1996 between President of India, through Director (VAS-I), Department of Telecommunication and M/s Fascel Limited (F. No. 205/123/99-ITA-II).
(iii) 2×250 MW Jamnagar Petcoke based Thermal Power Station in Gujarat of M/s Reliance Power Ltd., Avdesh House, 3rd Floor, Pritam Nagar, 1st Slope, Ellisbridge, Ahmedabad-380 006 (F. No. 205/156/99-ITA-II)
(iv) 28.77 MW Cogeneration Mini Power Plant at Pashamylaram, District Medak, Andhra Pradesh of M/s Astha Power Corporation Limited, B-1, Industrial estate, Sanathnagar, Hyderabad-500 018. (F.No. 205/159/99-ITA-II).