Approved Enterprise/ Industrial under Sec. 10(23G) - M/s Bangalore International Airport Limited (BIAL), Bangalore - 171/2003 - Income Tax

Approved Enterprise/ Industrial under Sec. 10(23G) - M/s Bangalore International Airport Limited (BIAL), Bangalore Notification No. 171 of 2003, dt. 14th 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 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 Bangalore International Airport Limited (BIAL), MSIL House, 36, Cunningham Road, Bangalore-560052 for their project of developing an international airport at Devanahalli, Near Bangalore in the State of Karnataka. [F.No. 205/59/2002 -ITA-I]