Notification No : 24
Section(s) Referred : s. 10(23G)
Date of Issue : 28/1/2003
Notification No. 24 of 2003, dt 28th Jan., 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 2002-2003, 2003-2004 and 2004-2005.
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 Andhra Expressway Ltd., Punj Lloyd House, 17-18, Nehru Place, New Delhi-110019 for their project of strengthening of the existing 2 lanes from Km. 253/0 to Km. 300/0 and widening thereof to 4 lane dual carriageway on Dharmavaram-Tuni section on NH 5 in Andhra Pradesh on BOT basis.