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of <h1>165 MW Power Project in Kerala Approved Under Section 10(23G) for Tax Benefits from 2001-2004, Subject to Compliance</h1> The Central Government has approved a 165 MW power project in Ernakulam, Kerala, by a company based in Mumbai under section 10(23G) of the Income-tax Act, 1961, for the assessment years 2001-2002, 2002-2003, and 2003-2004. The approval is contingent on compliance with section 10(23G) and rule 2E of the Income-tax Rules, 1962. The approval may be revoked if the project ceases operations, fails to maintain audited accounts, or does not submit the required audit report.
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