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of <h1>Chennai Enterprise's Bridge Project Approved Under Section 10(23G) for 1999-2002; Must Comply with Audit Rules</h1> The Central Government has approved a project by a Chennai-based enterprise under section 10(23G) of the Income-tax Act, 1961, for the assessment years 1999-2000 to 2001-2002. The project involves the construction, operation, and maintenance of a new bridge over the River Amaravati in Karur District, Tamil Nadu, under a BOT agreement with Karur Municipality. The approval is contingent upon compliance with relevant provisions and maintaining audited accounts. The approval may be withdrawn if the enterprise ceases infrastructure activities or fails to meet audit requirements.
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