Tax exemption under section 10(23G) for an infrastructure BOT project granted, subject to rule 2E compliance and audit conditions. Approval under section 10(23G) read with rule 2E has been accorded to M/s Nashik Infrastructure Developers Ltd for its BOT construction project on State Highway 141 for the stated assessment years, subject to continual compliance with section 10(23G) and rule 2E. The Central Government may withdraw approval if the enterprise ceases the eligible business, does not maintain audited books as required by sub rule (6) of rule 2E, or fails to furnish the required audit report.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption under section 10(23G) for an infrastructure BOT project granted, subject to rule 2E compliance and audit conditions.
Approval under section 10(23G) read with rule 2E has been accorded to M/s Nashik Infrastructure Developers Ltd for its BOT construction project on State Highway 141 for the stated assessment years, subject to continual compliance with section 10(23G) and rule 2E. The Central Government may withdraw approval if the enterprise ceases the eligible business, does not maintain audited books as required by sub rule (6) of rule 2E, or fails to furnish the required audit report.
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