Tax approval for infrastructure project requires compliance, audited accounts, and permits government withdrawal for noncompliance. Approval is granted to Rajdeep Road Developers (P.) Ltd. for a BOT development of a major bridge, qualifying the project under section 10(23G) read with rule 2E for the specified assessment years. The approval is subject to compliance with section 10(23G) and rule 2E, including maintenance of books and furnishing of an audit report under sub rule (7) of rule 2E; the Central Government may withdraw approval if the undertaking ceases the infrastructure activity or fails the accounting and audit requirements.
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Provisions expressly mentioned in the judgment/order text.
Tax approval for infrastructure project requires compliance, audited accounts, and permits government withdrawal for noncompliance.
Approval is granted to Rajdeep Road Developers (P.) Ltd. for a BOT development of a major bridge, qualifying the project under section 10(23G) read with rule 2E for the specified assessment years. The approval is subject to compliance with section 10(23G) and rule 2E, including maintenance of books and furnishing of an audit report under sub rule (7) of rule 2E; the Central Government may withdraw approval if the undertaking ceases the infrastructure activity or fails the accounting and audit requirements.
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