Approval of 1171 Kms transmission System from Siliguri to Mandaula Project by M/s Powerlinks Transmission Ltd., New Delhi u/s. 10(23G) - 269/2004 - Income Tax

Approval of 1171 Kms transmission System from Siliguri to Mandaula Project by M/s Powerlinks Transmission Ltd., New Delhi u/s. 10(23G) Notification No. 269 of 2004, dt. 27th Oct., 2004 It is notified for general information that the enterprise/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 with effect from the Asstt. Year 2004-05 to Assessment Year 2029-2030 (upto 12.11.2028) i.e. end of period of 25 years specified in the Licence dt. 13.11.2003 issued by the Central Electricity Regulatory Commission or earlier in the event of violation of the terms of the Licence. 2. The approval is subject to the conditions that- (i) the enterprise/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/undertaking:- (a) ceases to carry on the eligible business as defined in Explanation (b) to Rule 2E of I.T. Rules, 1962; or (b) fails to maintain books of account and get such accounts audited by an accountant as required by sub-rule (6) of rule 2E of the Income-tax Rules, 1962; or (c) fails to furnish the audit report as required by sub-rule (6) of rule 2E of the Income-tax Rules, 1962. (iii) the enterprise/undertaking starts transmission or distribution by laying a network of new transmission or distribution lines of the project mentioned in para (3) below on or before 31st day of March, 2006 as per provisions of Section 80IA(4)(iv)(b) of the Income-tax Act, 1961 failing which the approval shall be withdrawn 3. The enterprise/undertaking approved is- M/s Powerlinks Transmission Ltd, Regd. Office B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi-110 016 (formerly M/s Tata Delhi Transmission Ltd) for their project of 1171 Kms transmission System from Siliguri to Mandaula associated with Tata Hydro Electric Project, East North Interconnector and Northern Region Transmission System on Build, Own, Operate and Transfer (BOOT) basis as per Amended and Restated Implementation Agreement dated 08.04.8004 (original agreement dated 04.07.2003) between the Power Grid Corporation of India Ltd and Power Links Transmission Ltd. File No.205/23/2004/ITAII