Approval of Power Generation Project as Basin Bridge under section 10(23G) of the Income-tax Act, 1961 - 055/2002 - Income Tax

Approval of Power Generation Project as Basin Bridge under section 10(23G) of the Income-tax Act, 1961 Notification No. S.O. 935, dated, 6th March 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--Power Generation Project as Basin Bridge, Chennai, Tamil Nadu for generation of 4 x 50 mw. (200 mw.) Diesel Engine Power Station of GMR Power Corporation Pvt. Ltd., Bangalore-560 025 (F. No. 205/8/98/ITA. II-Vol.I). [Notification No. 55/2002/F. No. 205/48/98/ITA II.-Vol. I]