Approved project of National Long Distance Service of Reliance Communication Pvt. Ltd., Mumbai u/s 10(23G) - S.O.1690 - Income Tax

Approved project of National Long Distance Service of Reliance Communication Pvt. Ltd., Mumbai u/s 10(23G) NOTIFICATION NO. S.O.1690 DATED 27-6-2001 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 enterprise will sign the licence agreement with the Department of Telecommunication as required vide their award of licence dated 4-5-2001 from F.No. 10-21/2001-BS-I; ( iii ) 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 enterprises approvedis project of National Long Distance Service of Reliance Communication Pvt. Ltd., "Brindavan" 4th Floor, Shree Ram Mills Premises, Ganpatrao Kadam Marg, Worli, Mumbai-400013, under the award of licence of Department of Telecommunication dated 4-5-2001 from F.No. 10-21/2001-BS-I. [Notification No. 191/2001/F.No.205/7/2001-ITA-II.]