Section(s) Referred: s. 10(23G) ,r. 2E(7)
Statute: INCOME TAX
Date of Issue: 16/1/2001
It is notified for general information that the 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 2001-2002, 2002-2003 and 2003-2004.
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—165 mw. power project at Ernakulam, Kerala by BSES Kerala Power Ltd., Nagin Mahal (6th Floor), 82, Veer Nariman Road, Mumbai-400 020 (F. No. 205/45/2000-ITA-II).
(Notification No. 12/2001/F. No. 205/45/2000-ITA-II]