Approved u/s. 10(23G) of the Income-tax Act, 1961 - 'M/s East Coast Consultants and Infrastructure Limited' - 167/2003 - Income Tax

Approved u/s. 10(23G) of the Income-tax Act, 1961 - 'M/s East Coast Consultants and Infrastructure Limited' Notification No. 167 of 2003, dt 8th July, 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 East Coast Consultants and Infrastructure Limited, No. 4, Moors Road, Chennai-600006 for their project to construct a bridge over river Amravathi on Build-Operate Transfer (BOT) basis. [F.No. 205/12/1991/TA-II}