Notification No.55/2003 – Income Tax Dated 27/3/2003

Notification No. : 55

Section(s) Referred  : s. 10(23G)

Date of Issue : 27/3/2003

Notification No. 55 of 2003, dt. 27th 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 2002-2003, 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 Gujarat State Energy Generation Ltd., Block-15, 3rd Floor, Udyog Bhawan, Sector-11, Gandhinagar-382011 for their project of 156.1 MW gas based Combined Cycle Power Project at Hazira, Distt. Surat, Gujarat.

[F.No. 205/188/1999-ITA-II]