Section(s) Referred: s. 10(23G) ,r. 2E ,r. 2E(7)
Statute: INCOME TAX
Date of Issue: 20/12/1999
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, 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 readwith 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 enterprise/industrial undertakings approved are :
(i) 210 MW Stage IV, Panipat Thermal Power Project of M/s Haryana Power Generation Corporation Ltd., Shakti Bhawan, Sector 6, Panchkula-134109. (F. No. 205/35/98-ITA-II)
(ii) Cellular Mobile Telephone Service in Mumbai of M/s BPL Mobile Communication Ltd., System House, Palakkad, Kerala-678007, under the license agreement No. 842-17/93-TM dt. 30th Nov., 1994 between President of India, acting through Director (TM-1), Department of Telecommunication and M/s BPL Systems and Projects Ltd. (F. No. 205/58/98-ITA-II)
(iii) Cellular Mobile Telephone Service in Calcutta of M/s Usha Martin Telecom Ltd., 11 Dr. U.N. Brahamchari Street, Calcutta-700017, under the license agreement No. 842-23/93-TM dt. 30th Nov., 1994 between President of India, acting through Director (TM-1), Department of Telecommunication and M/s Usha Martin Telecom Ltd. (F.No.205/85/99-ITA-II)
(iv) Construction of a two lane bridge across river Watrak including its approaches near village Kheda at Km 33/430 to 42/180 in Ahmedabad-Vadodara section of NH No. 8 under BOT basis by M/s L&T Western India Tollbridge Ltd., Mount Poonamallee Road, Manapakkam, P.O. Box 979, Chennai 600089, under the agreement dt. 1st March, 1999 amongst Government of India, Government of Gujarat and Larsen & Toubro Ltd. (F. No. 205/173/99-ITA-II)