Approval of M/s Bharati Telesonic Ltd under section 10(23G) of the Income tax Act, 1961 - 052/2003 - Income Tax

Approval of M/s Bharati Telesonic Ltd under section 10(23G) of the Income tax Act, 1961 Notification No. 52 of 2003, dt. 13th March, 2003 It is notified for general information that enterprise/industrial 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, for the assessment years 2002-03, 2003-04 and 2004-05. 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 enterprise/industrial undertaking approved is - M/s Bharati Telesonic Ltd., H-5/12, Mehrauli Road, New Delhi-110030 for their project of Domestic Long Distance Telephony Service in India and International Long Distance Telephony Service as per Licence Agreements bearing numbers 10-25/2001-BS-I(01) and 10-07/2002-BS-I(ILD-02) and dated 29th November, 2001 and 14th March, 2002, respectively with the Department of Telecommunications, Government of India. [F. No. 205/30/2002-ITA-II]