Section 10(23G) - Specified projects of NTPC, New Delhi approved for the A.Y. 2002-03 - 207/2004 - Income Tax

Section 10(23G) - Specified projects of NTPC, New Delhi approved for the A.Y. 2002-03 Notification No. 207 /2004 Dated 3rd August, 2004 It is notified for general information that the enterprise/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 with effect from the Asstt. Year 2002-03. 2. The approval is subject to the conditions that- (i) the enterprise/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/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. (iii) the enterprise/undertaking starts generating power from the projects mentioned in para (3) below on or before 31st day of March, 2006 as per provisions of Section 80IA(4)(iv)(a) of the Income-tax Act, 1961 failing which the approval shall be withdrawn 3. The enterprise/undertaking approved is- M/s National Thermal Power Corporation Ltd, NTPC Bhavan, Scope Complex, 7, Institutional Area, Lodi Road, New Delhi for their projects as under: (i) Rihand Super Thermal Power Project Stage II, P.O. Bijpur, Distt. Sonebhadra (UP) of 2x500 MW capacity (ii) Ramagundam Super Thermal Power Project Stage III, P.O. Jyotinagar Distt. Karimnagar (AP) of 1x500MW capacity. File No.205/26/2002/ITAII Sd/- (Nidhi Singh) Under Secretary (ITA.II)