Approved developing, maintaining and operating bulk liquid storage terminals at Chennai Port by Ms Suraj Agro Products (P) Ltd., Chennai u/s 10(23G) - 50 - Income Tax

Approved developing, maintaining and operating bulk liquid storage terminals at Chennai Port by Ms Suraj Agro Products (P) Ltd., Chennai u/s 10(23G) NOTIFICATION NO. 50 DATED 1-3-2001 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 2001-2002, 2002-2003 and 2003-2004. 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---developing, maintaining and operating bulk liquid storage terminals at Chennai Port by M-s Suraj Agro Products (P) Ltd., 76, C.P. Ramaswamy Road, Alwarpet, Chennai---600018, India, under the agreement dt. 10th June, 1999, between M-s Suraj Agro Products (P) Ltd. and the trustees of the Port of Chennai. [F. No. 205-73-2000-ITA-II]