S.O. 850 : Notification: S. O. 850 Date of Issue: 15/3/1999

Notification: S. O. 850 Date of Issue: 15/3/1999

Notification: S. O. 850

Section(s) Referred: s. 10(23G)

Statute: INCOME TAX

Date of Issue: 15/3/1999

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 1998-99, 1999-2000 and 2000-2001.

2. The approval is subject to the condition that :

(i) the enterprise 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 :

(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

3. The enterprise approved is :

Upper Krishna Project of Krishna Bhagya Jala Nigam Ltd., PWD Offices Annexure, 3rd Floor, K. R. Circle, Bangalore-560 001, for executing Upper Krishna Irrigation Project.

[Notification No. 10827/F. No. 205/67/98-ITA-II]