Notification: 50
Section(s) Referred: s. 10(23G) ,r. 2E(7)
Statute: INCOME TAX
Date of Issue: 1/3/2001
It is notified for general information that enterprise, 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 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 :
(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 approved is—developing, maintaining and operating bulk liquid storage terminals at Chennai Port by M/s Suraj Agro Products (P) Ltd., 76, C.P. Ramaswamy Road, Alwarpet, Chennai—600018, India, under the agreement dt. 10th June, 1999, between M/s Suraj Agro Products (P) Ltd. and the trustees of the Port of Chennai.
[F. No. 205/73/2000-ITA-II] 

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