Tax exemption under section 10(23G) approved for specified infrastructure enterprises, subject to compliance and audit conditions. Approval is granted to specified enterprises under section 10(23G) read with rule 2E for assessment years 1999-2002, conditional on compliance with section 10(23G) and rule 2E. Conditions include maintaining books of account, obtaining and furnishing the audit report required by sub rule (7) of rule 2E, and continued operation as an infrastructure facility; the Central Government may withdraw approval for cessation of infrastructure activity or failure to satisfy the accounting and audit obligations.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption under section 10(23G) approved for specified infrastructure enterprises, subject to compliance and audit conditions.
Approval is granted to specified enterprises under section 10(23G) read with rule 2E for assessment years 1999-2002, conditional on compliance with section 10(23G) and rule 2E. Conditions include maintaining books of account, obtaining and furnishing the audit report required by sub rule (7) of rule 2E, and continued operation as an infrastructure facility; the Central Government may withdraw approval for cessation of infrastructure activity or failure to satisfy the accounting and audit obligations.
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