Approved various enterprise/industrial u/s 10(23G) - 11318 - Income Tax

Approved various enterprise/industrial u/s 10(23G) NOTIFICATION NO. 11318 DATED 3-4-2000 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 enterprise/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 ) construction of a Railway overbridge at level crossing No. 115/AA near Dera Bassi on Ambala Kalka Section of Northern Railway Crossing Ambala Kalka Road (NH-22) under BOT scheme by M/s R.S. Infrastructure Limited, 19, SCO, Feroze Gandhi Market, Ludhiana; under the agreement dated 8th September, 1999 between Government of India, Government of Punjab and M/s R.S. Builders and Engineers Ltd. (F. No. 205/10/2000-ITA-II). ( ii ) 290 MW (ISO) Phase-II expansion of the existing gas based combined cycle power project at Jegurupadu, Andhra Pradesh of M/s G.V.K. Industries Limited, Kohinoor, Road No. 1, Banjara Hills, Hyderabad-500034 (F. No. 205/36/98-ITA-II Vol. II) [F. No. 205/10/2000-ITA.II Ors.]