Tax exemption approval under section 10(23G) granted for a transmission project, subject to compliance and timelines. Approval is granted to M/s Powerlinks Transmission Ltd for the 1171 kms Siliguri-Mandaula transmission project under the income tax provision for specified exempt enterprises, effective from assessment year 2004-05 for the licence period. The approval is conditional on conformity with the governing provision and rule, maintenance and audit of prescribed accounts, furnishing the audit report, and commencement of the project's transmission or distribution lines by 31 March 2006; failure on these conditions permits Central Government to withdraw the approval.