Approval of M/s Hughes Telecom (India) Limited under section 10(23G) of the Income-tax Act, 1961 - 265/2002 - Income Tax

Approval of M/s Hughes Telecom ( India ) Limited under section 10(23G) of the Income-tax Act, 1961 Notification No. 265 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 Hughes Telecom (India) Limited, Ispat House, B.G. Kher Marg, Worli, Mumbai-400018 for their project of Basic Telephone Service in Maharashtra Telecom Circle (including Mumbai and Goa) under license agreement No. 17-11/95-BSII dated 30th September, 1997, between President of India, acting through Director (CS), Department of Telecommunication and M/s Hughes Telecom (India) Limited. [F.No. 205/20/2001-ITA-II]