Approval of M/s Gujarat State Energy Generation Ltd. under section 10(23G) of the Income-tax Act, 1961 - 055/2003 - Income Tax

Approval of M/s Gujarat State Energy Generation Ltd. under section 10(23G) of the Income-tax Act, 1961 Notification No. 55 of 2003, dt. 27th 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 2002-2003, 2003-2004 and 2004-2005. 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 Gujarat State Energy Generation Ltd., Block-15, 3rd Floor, Udyog Bhawan, Sector-11, Gandhinagar-382011 for their project of 156.1 MW gas based Combined Cycle Power Project at Hazira, Distt. Surat, Gujarat. [F.No. 205/188/1999-ITA-II]