Approval of M/s Chennai Container Terminal Limited under section 10(23G) of the Income-tax Act, 1961 - 332/2002 - Income Tax

Approval of M/s Chennai Container Terminal Limited under section 10(23G) of the Income-tax Act, 1961 Notification No. 332 of 2002 Datee 29th Oct., 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 2001-2002, 2002-2003 and 2003-2004. 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 (b) fails to furnish the audit report as required by sub-rule (7) or rule 2E of the Income-tax Rules, 1962. 3. The enterprise industrial undertaking approved is--M/s Chennai Container Terminal Limited, Mumbai for their project of development and management of Chennai Container Terminal as per their agreement with the Chennai Port Trust. [F.No. 205/51/2001/ITA.II]