Poject of providing Cellular Mobile Telephone Service in Chennai Metro Service Area by M/s Aircel Cellular Limited has been approved u/s 10(23G) - 282/2004 - Income Tax

Poject of providing Cellular Mobile Telephone Service in Chennai Metro Service Area by M/s Aircel Cellular Limited has been approved u/s 10(23G) Notification No. 282 of 2004, dt. 18th Nov., 2004 It is notified for general information that the approval to the enterprise, listed at para (3) below has been renewed 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 the Asstt. Year 2015-16 (upto 29.11.2014) i.e. upto the end of period of 20 years as mentioned in Ministry of Communications, Department of Telecommunications (VAS CELL) letter F.No.842-47/2000-VAS/VoI.IV dated 29.01.2001 issued to amend the terms of licence agreement No.842-21/93-TM dated 30th November, 1994 or earlier, in the event of violation of the terms of the agreement aforesaid. 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. 3. The enterprise/undertaking approved is- M/s Aircel Cellular Limited (formerly M/s RPG Cellular Services Ltd and M/s Mobile Telecom Services Ltd), 5th Floor, Spencer Plaza, 769, Anna Salai, Chennai for their project of providing Cellular Mobile Telephone Service in Chennai Metro Service Area as per licence agreement No. 842-21/93-TM dated 30th November, 1994 and as amended vide Ministry of Communications, Department of Telecommunications (VAS CELL) letters F.No.842-47/2000-VAS/VoI.IV dt. 29.01.2001 and 25.09.2001 consequent to Migration to revenue sharing regime of New Telecom Policy-1999.