Section(s) Referred: s. 10(23G) ,r. 2E ,r. 2F(7) ,r. 2E(7)
Statute: INCOME TAX
Date of Issue: 12/11/1999
It is notified for general information that enterprise/industrial 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, for the assessment years 1999-2000, 2000-2001 and 2001-2002.
2. The approval is subject to the conditions 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 2F 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 enterprise/industrial undertaking approved is 104MW Combined Cycle Power Project at Harihar, Karnataka by M/s Atria Power Corporation Limited, No. 1, Palace Road, Bangalore-560001.