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of <h1>Aircel Limited Gains Approval Under Section 10(23G) of Income-tax Act for Cellular Services Project, 2005-2010, with Conditions.</h1> The Central Government approved M/s Aircel Limited under section 10(23G) of the Income-tax Act, 1961, for the period from Assessment Year 2005-2006 to Assessment Year 2009-2010. This approval is contingent on compliance with the provisions of section 10(23G) and rule 2E of the Income-tax Rules, 1962. The approval may be withdrawn if the enterprise ceases its eligible business, fails to maintain audited accounts, or does not furnish the required audit report. The approval pertains to their project for providing Cellular Mobile Telephone Service in Tamil Nadu Circle as per a specific license agreement.
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