Approved Sardar Sarovar Narmada Nigam Ltd u/s 10(23G) - S. O. 524 - Income Tax

Approved Sardar Sarovar Narmada Nigam Ltd u/s 10(23G) NOTIFICATION NO. S. O. 524 DATED 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]