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Notification: S.0.1271
Section(s) Referred: s. 10(23g)
Statute: INCOME TAX
Date of Issue: 22/5/2001
Notification No. S.O. 1271, dated 22nd May, 2001.
It is notified for general information that enterprise/industrial undertakings 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 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 enterprises/industrial undertakings approved are-
(i) 18 mw. (4 x 4.5 mw.) wind farm power project at Vankusawade in Satara Dist., Maharashtra, by Karma Energy Limited, Empire House, 214, Dr. D. N. Road, Ent. A. K. Nayak Marg Fort, Mumbai-400 001 [F. No. 205/ 33/2001/ITA-II].
(ii) 220 mw. naphtha based power project and generation of power at Tanir Bavi, Mangalore, by Tanir Bavi Power Company Pvt.
Ltd., Skip House, 25/1, Museum Road, Bangalore-560 025, [F. No. 250/70/98-ITA-11, Vol. 1].
[Notification No. 131/2001/F. No. 205/33/2001 and 2505/70/98 (Col. I) ITA-II]
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