Notified Project u/s. 10(23G) - Emas Expressway Pvt. Ltd., Kolkata - 302/2003 - Income Tax

Notified Project u/s. 10(23G) - Emas Expressway Pvt. Ltd., Kolkata Notification No : 302 Date of Issue : 21/11/2003 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 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- Emas Expressway Pvt. Ltd., 'Everest House' Flat No. 20C, 46C, Chowringhee Road, Kolkata-700071 for their project of rehabilitation and strengthening of the existing 2 lanes from Km 581 to Km 646 and widening thereof to 4 lanes with dual carriageway on the existing Durgapur Expressway (Dankuni-Palsit Section of National Highway-2) in the State of West Bengal on Build-Operation-Transfer (BOT) basis. (F. No. 205/37/2002-ITA-II)