Approval of M/s Reliance Infocom Ltd, Ahmedabad for the purpose of section 10(23G) of the Income-tax Act, 1961 - 277/2003 - Income Tax

Approval of M/s Reliance Infocom Ltd, Ahmedabad for the purpose of section 10(23G) of the Income-tax Act, 1961 Notification No : 277 Date of Issue : 05/11/2003 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; (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 Reliance Infocom Ltd, Ahmedabad for their projects of providing Basic Telephone Services in 17 telecom circles (namely Andaman Nicobar, Andhra Pradesh, Bihar, Delhi, Haryana, Himachal Pradesh, Kamataka, Kerala, Madhya Pradesh, Maharashtra, Orissa, Punjab, Rajasthan, Tamil Nadu, Uttar Pradesh (East), Uttar Pradesh (West) and West Bengal) and international long distance services as per agreements between President of India, acting through Director (BS), Department of Telecommunication and the applicant company (F. No. 205/31/2002-ITA-II) 4. The approval is subject to the condition that the undertaking starts providing telecommunication services on or before the 31st day of March, 2004, as per provisions of Section 80IA(4)(ii) of the Income Tax Act, 1961. F.N0.205/31/2002/ITA-II