NOTIFICATION NO. 56/2005, DATED 15-2-2005
It is notified for general information that the approval to the enterprise/undertaking, listed at para (3) below has been renewed 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 with effect from the Assessment Year 2004-05 to Assessment Year 2022-2023 (upto 26.09.2021) i.e. end of period of 20 years as specified in the Licence Agreement dated 27.09.2001 as mentioned in Para 3 below, or earlier, in the event of violation of the terms of the agreement aforesaid.
2. The approval is subject to the conditions that —
(i) the enterprise/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/undertaking:-
(a) ceases to carry on the eligible business as defined in Explanation (b) to Rule 2E of IT. Rules, 1962; or:
(b) fails to maintain books of account and get such accounts audited by an accountant as required by sub-rule (6) of rule 2E of the Income-tax Rules, 1962; or
(c) fails to furnish the audit report as required by sub-rule (6) of rule 2E of the Income-tax Rules, 1962.
(iii) the enterprise/undertaking shall start providing cellular Mobile telephone services on or before 31.03.2005 failing which approval shall be withdrawn.
3. The enterprise/undertaking approved is —
M/s Reliable Internet Services Limited, 1st Floor, Gopal Das Bhavan, 28, Barakhamba Road, New Delhi-110001 for their project of providing Cellular Mobile Telephone Services at Kolkata Metro Service Area as per Licence Agreement No.842-385/2001-VAS/Kolkata dated 27 th September, 2001 enterered into with the President of India acting through Assistant Director General (VAS-I), Department of Telecommunications (DOT), New Delhi (F. No 205/48/2001 – ITA-II)(Vol.1)