Notification No : 25
Section(s) Referred : s. 10(23G)
Date of Issue : 28/1/2003
Notification No. 25 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 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 L&T Infocity Ltd., 1-Q4-A1, 1st Floor, Cyber Towers, HITEC City, Madhapur, Hyderabad 500 081 for their project of development, maintenance and operation of an industrial park dealing with software supply services, business and management, technical consultancy services in Madhapur Village, Distt. Ranga Reddy, Andhra Pradesh as notified in Notification No. 130/2001 dated 22nd May, 2001, issued by the Ministry of Finance.
[F. No. 205/43/2001/ITA.II]
