Central Government approved Upper Krishna Project of Krishna Bhagya Jala Nigam Ltd. u/s 10(23G) - S. O. 850 - Income Tax

Central Government approved Upper Krishna Project of Krishna Bhagya Jala Nigam Ltd. u/s 10(23G) NOTIFICATION NO. S. O. 850 DATED 15-3-1999 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 : Upper Krishna Project of Krishna Bhagya Jala Nigam Ltd., PWD Offices Annexure, 3rd Floor, K. R. Circle, Bangalore-560 001, for executing Upper Krishna Irrigation Project. [Notification No. 10827/F. No. 205/67/98-ITA-II]