Approval of M/s Reliance Communications Infrastructure Limited u/s 10(23G) - 295/2004 - Income Tax

Approval of M/s Reliance Communications Infrastructure Limited u/s 10(23G) Notification No-295- dt. 20-12-04 It is notified for general information that the approval to the enterprise, listed at para (3) below has been renewed 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 (i) with effect from the Asstt. Year 2004-05 to the Asstt. Year 2014-15 (upto 08.11.2013) i.e. upto the end of period of 15 years mentioned in licence agreement No. 820-43/98-LR dated 9th November, 1998 between President of India acting through Assistant Director General (LR-I), Department of Telecommunications and M/s Sukhkarta Fintrade (P) Ltd. or earlier, in the event of violation of the agreement aforesaid and (ii) with effect from the Assessment Year 2004-2005 in the case of Infrastructure Provider Category-1. 2. The approval is subject to the conditions that - (i) the enterprise/undertaking will conform to and comply with the provisions of section 10(230) 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/undertaking:- (a) ceases to carry on the eligible business as defined in Explanation (b) to Rule 2E of I.T. Rules, 1962; or (b) fails to maintain books of account and get such accounts audited by an accountant as required by sub-rule (6) of rule 2E of the Income-tax Rules, 1962; or (c) fails to furnish the audit report as required by sub-rule (6) of rule 2E of the Income-tax Rules, 1962. 3. The enterprise/undertaking approved is - M/s Reliance Communications Infrastructure Limited 'Brindavan', 2nd Floor, Shree Ram Mills Premises, Ganpatrao Kadam Marg, Worii, Mumbai-400013 (Formerly M/s Reliance Infocom Limited) for their projects of: (i) providing Internet Service in India under the Licence agreement No. 820-43/98-LR dated 9.11.98 between the President of India, acting through Assistant Director General (LR-I), Department of Telecommunications and M/s Sukhkarta Fintrade (P) Ltd and (ii) Infrastructure Provider Category I vide certificate No.30/2001 dated 12.02.2001 issued by the Department of Telecommunication (Basic Services group). Sd/- Nidhi Singh Under Secretary to the Government of India Central Board of Direct Tax