Approval of M/s Karnataka Power Corporation Limited, Shakthi Bhawanunder section 10(23G) of the Income-tax Act, 1961 - 200/2002 - Income Tax

Approval of M/s Karnataka Power Corporation Limited, Shakthi Bhawan under section 10(23G) of the Income-tax Act, 1961 NOTIFICATION NO. 200 Dated 12th August. 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(23G) of the Income-tax Act, 1961, read with rule 2E 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 approved is - M/s Karnataka Power Corporation Limited, Shakthi Bhawan, No.82, Race Course Road, Bangalore - 560001 for their project Bhadra Right Bank Canal Power House, (1X6 MW), Sharavathi Gerusoppa Rail Race Project (4X60 MW), and Kondasalli Dam Power House (3X40 MW) (F.No.205/7/98/ITA.II Vol) Sd/- (Sangeeta Gupta) Director Central Board of Direct Taxes F. No. 205/7/98/ITA.II Vol.I)