Section 10(23G) approval ensures tax exemption for a natural gas power project, conditional on compliance and audit. Approval is granted to M/s Konaseema EPS Oakwell Power Ltd.'s 200 MW natural gas power project under section 10(23G) read with rule 2E for specified assessment years, subject to compliance with section 10(23G) and rule 2E. The approval may be withdrawn if the undertaking ceases to operate as an infrastructure facility, fails to maintain books and obtain the required audit under sub rule (7) of rule 2E, or fails to furnish the prescribed audit report.