Approval of "M/s Spice Communications Limited" under section 10(23G) of the Income-tax Act, 1961 - 349/2002 - Income Tax

Approval of "M/s Spice Communications Limited" under section 10(23G) of the Income-tax Act, 1961 NOTIFICATION NO. 349 Dated 22nd 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 Spice Communications Limited, 13th Floor, Modicorp Tower, 98 Nehru Place, New Delhi-110019 (formerly M/s Modicom Network Ltd., Delhi) for their project of providing cellular services in the State of Punjab and Karnataka as per license agreement Nos.842-65(B)/95-VAS (Punjab Circle) dated 09.09.1996 and 842-53(A) 95-VAS (Karnataka Circle) dated 09.09.1996 (F.No-205/49/2001/ITA.II). Sd/- (Sangeeta Gupta) Director (ITA.II) Central Board of Direct Taxes F. No. 205/49/2001/ITA-II