Approval of Gujarat Powers General Energy Corporation Ltd under section 10(23G) of the Income-tax Act, 1961 - 050/2002 - Income Tax

Approval of Gujarat Powers General Energy Corporation Ltd under section 10(23G) of the Income-tax Act, 1961 Notification No. S.O. 933, dated 26th February 2002 . It is notified for general information that enterprise, listed at para. (3) below have 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 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 approved is-- 1 [ Gujarat Power Gen Energy Corporation Ltd., 6th Floor, 'Chanakya' Off. Ashram Road, Ahmedabad-380 009 ] [Notification No. 50/2002/F. No. 205/43/98/ITA. II Vol. I] ********* Notes 1. Corrected vide Notification No. S.O. 1246, dated 21-03-2002 before it was read as Gujarat Powers General Energy Corporation Ltd., 6th Floor, Chankya Off Ashram Road, Ahmedabad-380 009 for their project 655 m.v. Dual Fuel Combined Cycle Power Plant at Paguthan Village in the District of Gujarat