Approved various projects u/s 10(23G) - S. O. 525 - Income Tax

Approved various projects u/s 10(23G) NOTIFICATION NO. S. O. 525 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 enterise:--- ( 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 list of enterprises approved is as under:--- ( i ) Telecommunication Service Project in respect of the licence granted to Tata Teleservices Ltd., Jeevan Bharti, Connaught Circus, New Delhi-110 001, by the Department of Telecommunication on 4-11-97 for basic telephone services in Andhra Pradesh (F. No. 205/64/98/ITA-II). ( ii ) Power Generation Projects, namely, Tarapur Atomic Power Project, Units 3 and 4---(1000 MW), Maharashtra ; Kaiga Atomic Power Projects, Units 1 and 2---(440 MW), Karnataka and Rajasthan Atomic Power Project, Units 3 and 4---(440 MW), Rajasthan undertaken by Nuclear Power Corporation, 424 and 425 World Trade Centre, Barakhamba Lane, Connaught Place, New Delhi-110001 (F. No. 205/13/98/ITA-II). ( iii ) Power Generation Project at Khaparkheda Thermal Power Project (Units 3 and 4) of Maharashtra State Electricity Board for generation of 210 MW Power by each unit at Khaparkheda, Nagpur (F. No. 205/2/98/ITA-II). ( iv ) Power Generation Project at Basin Bridge, Chennai, Tamil Nadu, for generation of 4 x 50 MW (200 MW) ; Diesel Engine Power Station of GMR Vasavi Power Corporation Ltd., Bangalore-560 025 (F. No. 205/8/98/ITA-II). [No. 10793/F. No. 205/64/98-ITA-II]