Approval of "M/s Sterling Cellular Limited" under section 10(23G) of the Income-tax Act, 1961 - 353/2002 - Income Tax

Approval of "M/s Sterling Cellular Limited" under section 10(23G) of the Income-tax Act, 1961 NOTIFICATION No. 353 Dated 27th November,2002 It is notified for general information that enterprise/industrial 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, 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/industrial undertaking approved is- M/s Sterling Cellular Limited, Chennai for their project of providing cellular mobile telephone services in Delhi region as per license agreement No.842-22/93-TM dated 30.11.1994. (F.No.205/15/1998-ITA-II)