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of <h1>Government Approves Infrastructure Projects u/s 10(23G) of Income-tax Act for 1999-2002; Compliance Required for Approval Retention.</h1> The Central Government has approved certain enterprises and industrial undertakings under section 10(23G) of the Income-tax Act, 1961, for the assessment years 1999-2000 to 2001-2002. These approvals are contingent upon compliance with the relevant provisions of the Act and Rules. The approval will be revoked if the entities cease infrastructure operations, fail to maintain audited accounts, or do not submit the required audit reports. The approved projects include a thermal power project in Haryana, mobile telephone services in Mumbai and Calcutta, and a bridge construction project in Gujarat.
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