The enterprise/industrial M/s Reliable Internet Services Ltd approved under section 10(23b) of the Income-tax Act, 1961 - 131/2002 - Income Tax

The enterprise/industrial M/s Reliable Internet Services Ltd approved under section 10(23b) of the Income-tax Act, 1961 Notification No. 131 of 2002 Dated 4th June, 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(23b) 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 undertakings 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 Reliable Internet Services Ltd., 1st Floor, Gopal Das Bhawan, 28, Bharakhamba Road, New Delhi-110001, for their project of providing for Cellular Mobile Telephone Services at Kolkata Metro Service Area as per Agreement No. 842-385/2001-VAS/Kolkata dated 27th September, 2001. [F. No. 205/48/2001/ITA-II]