Approved various enterprises/industrial undertakings, u/s 10(23G) - 11149 - Income Tax

Approved various enterprises/industrial undertakings, u/s 10(23G) NOTIFICATION NO. 11149 DATED 29-11-1999 It is notified for general information that enterprises/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 1999-2000, 2000-2001 and 2001-2002. 2. The approval is subject to the condition that : ( i ) the enterprises/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 ) Bhadra Right Bank Canal Power House (1 x 6MW), Sharavathi (Gerusoppa) Tail Race Project (4 x 60MW) and Kodasalli Dam Power House (3 x OMW) of M/s Karnataka Power Corporation Ltd., Shakti Bhawan, No. 82, Race Course Road, Bangalore-560001. (F. No. 205/7/98-ITA-II) ( ii ) Cellullar Mobile Telephone Service in Delhi of M/s Sterliing Cellular Limited, C-48, Okhla Industrial Area, Phase-II, New Delhi-110020, under the license agreement No. 842-22/93-TM, dated 30th November, 1994 between President of India, acting through Director (TM-1), Department of Telecommunication and M/s Sterling Cellular Limited. (F. No. 205/15/98-ITA-II)