Approved M/s Tata Teleservices Ltd under Sec. 10(23G) - 081/2003 - Income Tax

Approved M/s Tata Teleservices Ltd under Sec. 10(23G) Notification No. 81 of 2003, dt 16th April, 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 2003-2004, 2004-2005 and 2005-2006. 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 Tata Teleservices Ltd., 10th Floor, Tower 1, Jeevan Bharati, 124, Connaught Circus, New Delhi-100001 for their project of providing basic telephone services in the Delhi, Gujarat, Karnataka and Tamil Nadu Telecom Circles under the license agreement Nos. 18-57/2001-BS-II/Delhi dated 31st August, 2001, 18-59/2001-BS-II/Karnataka dated 31st August, 2001, 18-58/2001-BS-II/Gujarat dated 31st August, 2001 and 18-61/2001-BS-II/Tamil Nadu dated 31st August, 2001 between President of India, acting through Director (BS), Department of Telecommunication and the applicant company. [F.No. 205/58/2002-ITA-II]