Tax-exempt infrastructure approval granted to Upper Krishna Project subject to compliance, audit and continuity conditions. Approval is granted to the Upper Krishna Project of Krishna Bhagya Jala Nigam Ltd. 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, subject to conformity with those provisions and with withdrawal of approval if the enterprise ceases to carry on infrastructure facility, fails to maintain books of account and get them audited as required by sub-rule (7) of rule 2E, or fails to furnish the audit report required by that sub-rule.
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Provisions expressly mentioned in the judgment/order text.
Tax-exempt infrastructure approval granted to Upper Krishna Project subject to compliance, audit and continuity conditions.
Approval is granted to the Upper Krishna Project of Krishna Bhagya Jala Nigam Ltd. 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, subject to conformity with those provisions and with withdrawal of approval if the enterprise ceases to carry on infrastructure facility, fails to maintain books of account and get them audited as required by sub-rule (7) of rule 2E, or fails to furnish the audit report required by that sub-rule.
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