Approval of M/s Rajahmundry Expressway Ltd under section 10(23G) of the Income-tax Act, 1961 - 266/2002 - Income Tax

Approval of M/s Rajahmundry Expressway Ltd under section 10(23G) of the Income-tax Act, 1961 Notification No. 266 of 2002 Dated. 19th Sept, 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 (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 Rajahmundry Expressway Ltd., Punj Lloyd House, 17-18 Nehru Place, New Delhi-110019 for their project of developing, maintaining and operating of 4 lane carriageway from 200 km. to 253 km. on Vijayawada-Visakhapatnam section on National Highway No. 5 in Andhra Pradesh on BOT basis. [F. No. 205/17/2002-ITA-II]