Notified Project u/s. 10(23G) - M/s Chennai Container Terminal Private Ltd, Mumbai - 304/2003 - Income Tax

Notified Project u/s. 10(23G) - M/s Chennai Container Terminal Private Ltd, Mumbai Notification No : 304 Date of Issue : 21/11/2003 1. 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- M/s Chennai Container Terminal Private Limited, Mumbai for their project of development and management of Chennai Container Terminal as per their agreement with the Chennai Port Trust. (F. No 205/51/2001 - ITA-II (Vol.I).