Notification No : 296
Section(s) Referred : Section 10(23G)
Date of Issue : 19/11/2003
Notification No : 296 Date of Issue : 19/11/2003
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 GVK Industires Ltd, Kohinoor, Road No. 1, Banjara Hills, Hyderabad-500034 for their project of 440 MW, Phase II gas based combined cycle power project at Jegurupadu, Andhra Pradesh (F. No. 205/36/1998-ITA-II (Vol.III).