Approved G.V.K. Industries Limited under Sec. 10(23G) of the Income-tax Act, 1961 - 002/2002 - Income Tax

Approved G.V.K. Industries Limited under Sec. 10(23G) of the Income-tax Act, 1961 Notification No. S.O. 112, dated 3rd January, 2002 . It is notified for general information that enterprise, 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; (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 approved is--235 MW combined cycle basic power plant at Jegurupadu, Andhra Pradesh by G.V.K. Industries Limited, Kohinoor Road, No. 1, Banjara Hills, Hyderabad (F.No. 205/36/98/ITA-II Vol. I). [Notification No. 2/2002/F.No. 205/36/98-ITA-II Vol.I]