Section(s) Referred: s. 10(23G) ,r. 2E ,r. 2E(7)
Statute: INCOME TAX
Date of Issue: 30/12/1999
It is notified for general information that the 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 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.
3. The enterprises/industrial undertakings approved are :
(i) Cellular Mobile Telephone Service in Rajasthan of M/s Hexacom India Limited, C-148, Naraina Industrial Area, Phase-1, New Delhi-110028, under the license agreement No. 842-63B/95-VAS dated 16th September, 1996, between President of India, acting through Director (VAS-II), Department of Telecommunication and M/s Hexacom India Limited. (F. No. 205/167/99-ITA-II)
(ii) 19.2 MW power plant consisting of four Gen. Sets using heavy fuel or furnace oil of M/s Kirloskar Power Supply Co. Ltd., Laxmanrao Kirloskar Road, Khadki, Pune-411003. (F. No. 205/175/99-ITA-II)
(iii) 227 MWs Short Gestation liquid fuel based power project at Bhimavaram and Jaggammagaripeta villages of Peddapuram and Samalkot Mandals, East Godavari District, Andhra Pradesh of M/s NCC Power Corporation Private Ltd., Nagarjuna Hills, Hyderbad-500082. (F. No. 205/171/99-ITA-II)
(iv) 359 MW Naphtha based power plant at Peddapuram, East Godavari District, Andhra Pradesh of M/s Gautami Power Private Limited, II Floor, KPR House, S.P. Road, Secunderabad-500003 (F. No. 205/179/99-ITA-II)