Approved M/s Kakinada Seaports Ltd under Sec. 10(23G) - 082/2003 - Income Tax

Approved M/s Kakinada Seaports Ltd under Sec. 10(23G) Notification No. 82 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 2001-02, 2002-03 2003-04. 2. The approval is subject to the condition that- ( i ) the enterprise/industrial undertaking will conform to arid 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 Kakinada Seaports Ltd. (formerly Cocanada Port Company Private Limited), East India Chambers, 3rd Floor, 3, Village Road, Nungambakkam, Chennai-600034 for their project of operation and management of three existing berths along with the construction, operation and management of a fourth berth lo be added later at Kakinada Port in Andhra Pradesh. [F.No. 205/37/2000-ITA-II]