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Notification: 543
Section(s) Referred: s. 10(23G) ,r. 2E(7)
Statute: INCOME TAX
Date of Issue: 5/3/2001
It is notified for general information that enterprises/industrial under takings, listed at para. (3) below have 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/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 enterprises/industrial undertakings approved are
(i) Basic Telephone Service in Rajasthan of Shyam Telelinks Ltd., A60, Naraina Industrial Area Phase-I, New Delhi-110028, under the Licence Agreement No. 17-16/95-BSII/Rajasthan, dated 4-3-1998, between President of India, acting through Deputy Director-General (Basic Services), Department of Telecommunication and Telelink Network (India) Ltd. (F. No. 205/ 51/2000-ITA. 11)
(ii) 220 mw. combined cycle power project at Vetlapalem Village, Samalkot Mandol, East Godavari District, Andhra Pradesh of BSES Andhra Power Ltd., Campus Capri Apartments, 6-3-1090/A, Rajbhavan Road, Somajiguda, Hyderabad-500 082 (F. No. 205/11/2001-ITA. II).
[Notification No. 56/2001/F. No. 205/51/2000-ITA-II and 205/11/2001-ITA. II]   

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