Approval Of M/s Suryachakra Power Corporation Private Limited under section 10(23G) - 216/2004 - Income Tax

Approval Of M/s Suryachakra Power Corporation Private Limited under section 10(23G) Notification No: 216 Dated 17-Aug-2004 It is notified for general information that the approval to enterprise/undertaking, 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 with effect from the Asstt. Year 2002-03 to Asstt. Year 2018-19 i.e. upto the end of the period of power purchase agreement dt.20.11.1997 entered into with the President of India represented by the Chief Secretary, Andaman Nicobar Administration and M/s Suryachakra Power Corporation Limited or earlier, in the event of violation of the terms of the agreement aforesaid. 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. 3. The enterprise/undertaking approved is- M/s Suryachakra Power Corporation Private Limited, 3-6-725, Street No. 11, Himayatnagar, Hyderabad-500029 for their project of 20 MW Diesel based Power Plant at Bambooflat, South Andaman Island , A N Islands . Sd/- (Nidhi Singh) Under Secretary to the Govt. of India Central Board of Direct Taxes F.No. 205/56/2001/ITA.II