Approval of M/s HFCL Infotel Ltd (Formerly M/s The Investment Trust of India (Ltd) for the purpose of section 10(23G) of the Income-tax Act, 1961 - 282/2003 - Income Tax

Approval of M/s HFCL Infotel Ltd (Formerly M/s The Investment Trust of India (Ltd) for the purpose of section 10(23G) of the Income-tax Act, 1961 Notification No : 282 Date of Issue : 11/11/2003 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 2004-2005, 2005-2006 and 2006-2007. 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 - 1. M/s HFCL Infotel Ltd (Formerly M/s The Investment Trust of India (Ltd) Mashkur Building, No. 1, Krishnama Road, Nugambakkam, Chennai for their project of providing Telephone Services in Punjab Circle vide licence No. 17-15/95/BS-H/Punjab dated 07-11-97. The approval was last made in the name of M/s HFCL Infotel Ltd with address C-25, Industrial Area, Phase 2, SAS Nagar, Mohali-160055 (Punjab) (F.No.205/42/98/IT.AII-Vol.II) F.No.205/42/ 1998/ITA.II-(Vol.II)