Approved M/s New Tirupur Area Development Corporation Ltd under Sec. 10(23G) - 084/2003 - Income Tax

Approved M/s New Tirupur Area Development Corporation Ltd under Sec. 10(23G) Notification No. 84 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 2002-2003, 2003-2004 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 New Tirupur Area Development Corporation Ltd., 85, Santhome High Road, Chennai 600 028 for their project of development of 185 MLD integrated water supply and sewage project involving ( a ) supply of potable water to wayside village, ( b ) supply of potable water to TM for domestic and non-domestic purpose, ( c ) offtake, treatment and disposal of sewage from TM, including low cost sanitation facilities within TM and ( d ) supply of potable water to industries in the service area on BOT basis. [F.No. 205/152/1999-ITA-II]