Approval of M/s PPN Power Generating Company Limited under section 10(23G) of the Income tax Axt, 1961 - 115/2004 - Income Tax

Approval of M/s PPN Power Generating Company Limited under section 10(23G) of the Income tax Axt, 1961 Notification No. 115 of 2004, dt. 23rd Mar., 2004 It is notified for general information that the enterprise/undertaking, 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 with effect from the Asstt. Year 2002-03. 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 I.T. 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 PPN Power Generating Company Limited, III Floor, Jhaver Plaza, 1-A, Nungambakkam High Road, Chennai-600034 for their 330.5 MW Combined Cycle Gas Turbine Power Project at Pillaiperumalnallur in Tamil Nadu. (F.No.205/98/ 1999/ITA.II)(Vol.1) F.No.205/98/ 1999/ITA.II)(Vol. 1)