Tax exemption under section 10(23G) granted with compliance and audit conditions; approval withdrawable on noncompliance. Central Government approved Daewoo Power Ltd. under section 10(23G) read with rule 2E for its Korba thermal power project, subject to compliance with the statutory provisions and the maintenance and audit of books of account; the Government may withdraw approval if the enterprise ceases to carry on an infrastructure facility, fails to maintain or audit accounts, or fails to furnish the required audit report.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption under section 10(23G) granted with compliance and audit conditions; approval withdrawable on noncompliance.
Central Government approved Daewoo Power Ltd. under section 10(23G) read with rule 2E for its Korba thermal power project, subject to compliance with the statutory provisions and the maintenance and audit of books of account; the Government may withdraw approval if the enterprise ceases to carry on an infrastructure facility, fails to maintain or audit accounts, or fails to furnish the required audit report.
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