Approval of M/s LVS Power Limited, Hyderabad, u/s 10(23G) of the Income Tax Act, 1961 - 021/2005 - Income Tax

Approval of M/s LVS Power Limited, Hyderabad , u/s 10(23G) of the Income Tax Act, 1961 Notification No. 21/2005, Dated 2-2-2005 It is notified for general information that approval to the enterprise/undertaking, listed at para (3) below has been renewed 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 with effect from the Assessment Year 2004-2005 to Assessment Year 2006-2007. 2.The approval is subject to the conditions that - (i) the enterprise/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/undertaking:- (a) ceases to carry on the eligible business as defined in Explanation (b) to Rule 2E of IT. Rules, 1962; or (b) fails to maintain books of account and get such accounts audited by an accountant as required by sub-rule (6) of rule 2E of the Income-tax Rules, 1962; or (c) fails to furnish the audit report as required by sub-rule (6) of rule 2E of the Income-tax Rules, 1962. 3. The enterprise/undertaking approved is- M/s LVS Power Limited, 8-2-269/S/90, Road No.2, Sagar Co-Op Housing Society, Banjara Hills, Hyderabad-500034 for their 37.8 MW Power Plant at Gurrampalem Village, Pendurthy Mandal Vishakhapatnam District, Andhra Pradesh. (F.NO.205/59/2000/ITAII) (Vol.1). [F.No.205/59/2000/ITA.II)(Vol.1)]