Approved M/s Malana Power Company Limited under Sec. 10(23G) of the Income-tax Act, 1961 - 001/2002 - Income Tax

Approved M/s Malana Power Company Limited under Sec. 10(23G) of the Income-tax Act, 1961 NOTIFICATION No.1/2002 Dated 3rd January. 2002 It is notified for general information that enterprise, 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(230) 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 / indu strial 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 approved is - 86 MW Malana Hydro Electric Project at Jari, Kullu Distt. Himachal Pradesh by M/s Malana Power Company Limited, Bhilwara Towers, A-12, Sector I,Noida-201301 (F.No.205/62/98-ITA.II -Vol.1) Sd/- (Sangeeta Gupta) Director (ITA.II) Central Board of Direct Taxes F.N0.205/62/98-ITA-II Vol.1