Notification No.131/2003- Income Tax Dated 21/5/2003

Notification No:131

Section(s) Referred:s. 10(23G)

Date of Issue:21/5/2003

Notification No. 131 of 2003, dt. 21st May, 2003

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 2003-2004, 2004-2005 and 2005-2006.

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 enterprise/industrial undertaking approved is–M/s. Tidel Park Limited, No. 4, Canal Bank Road, Taramani, Chennai-600113, for their project of development, maintenance and operations of Software Technology Park at Chennai for information technology/software technology, being an industrial park.

[F.No. 205/101/1999-ITA-II]