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Notification: S. O. 1453
Section(s) Referred: s. 10(23G)
Statute: INCOME TAX
Date of Issue: 20/5/1999
It is notified for general information that enterprises, 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 1999-2000, 2000-2001 and 2001-2002.
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) faifs 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 approved are as under:
(i) The project to build, maintain and operate the second Narmada bridge and transfer existing bridge as per concession agreement signed along with the Larson and Toubro Ltd. with the Government of India and the Government of Gujarat by Narmada Infrastructure Construction Enterprise Ltd., Chennai (F. No. 205/103/99/ITA-II).
(ii) The power generation project of 300 mw Hydro Electric Baspa-II Project in Distt. Kinnaur, Himachal Pradesh of Jai Prakash Hydro Power Ltd., New Delhi (F. No. 205/77/99/ITA-II).
(iii) Telecommunication project for provisions of cellular mobile telephone services in the circles of U.P. (East), U.P. (West), Bihar and Orissa in pursuance with the licences granted by the Department of Telecommunication, Government of India to Koshika Telecom Ltd., New Delhi (F. No. 205/81/99/ITA-II).
(iv) Construction of by pass on the Coimbatore section of the National Highway (NH-47) 28 km. bypass and two lane Athupalam bridge on river Noyyal on 32-year Build Operate Transfer (BOT) basis as per concession agreement signed among Larson and Toubro Ltd., Ministry of Surface Transport and Government of Tamilnadu by L & T Transportation Infrastructure Ltd., Chennai (F. No. 205/66/98/ITA-II).
(v) 335 mw liquid fuel based power generation project at Kondapalli, IDA, Krishna Distt. (AP) by Kondapalli Power Corporation Ltd., Hyderabad (F. No. 205/94/99/ITA-II).
(vi) Project regarding railway over bridge (four lane) at 368.020 on NHB in Rajasthan byn., M.S.K. Projects (India) Ltd., Baroda (F. No. 205/32/98/ITA-II).
[Notification No. 10933]
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