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Notification: S. O. 524
Section(s) Referred: s. 10(23G)
Statute: INCOME TAX
Date of Issue: 11/2/1999
It is notified for general information that enterprise, 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 1998-99, 1999-2000 and 2000-2001.
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) 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 approved is—
Sardar Sarovar Narmada Nigam Ltd., in respect of its projects for power generation, water supply and irrigation.
[No. 10792/F. No. 205/9/98-ITA-II]
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