Notification No.52/2003 – Income Tax Dated 13/3/2003

Notification No. :    52

Section(s) Referred  :  s. 10(23G)

Date of Issue :    13/3/2003

Notification No. 52 of 2003, dt. 13th March, 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 2002-03, 2003-04 and 2004-05.

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 Bharati Telesonic Ltd., H-5/12, Mehrauli Road, New Delhi-110030 for their project of Domestic Long Distance Telephony Service in India and International Long Distance Telephony Service as per Licence Agreements bearing numbers 10-25/2001-BS-I(01) and 10-07/2002-BS-I(ILD-02) and dated 29th November, 2001 and 14th March, 2002, respectively with the Department of Telecommunications, Government of India.

[F. No. 205/30/2002-ITA-II]