Tax exemption approval for a notified infrastructure project, contingent on compliance with law and submission of audited accounts. Central Government approved M/s GVK Industires Ltd as a notified project for the purpose of section 10(23G), read with rule 2E, for its 440 MW Phase II gas based combined cycle power project, subject to conformity with the provisions of section 10(23G) and rule 2E; approval is liable to withdrawal if the enterprise ceases to carry on the infrastructure facility, fails to maintain and audit books of account as required, or fails to furnish the audit report.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption approval for a notified infrastructure project, contingent on compliance with law and submission of audited accounts.
Central Government approved M/s GVK Industires Ltd as a notified project for the purpose of section 10(23G), read with rule 2E, for its 440 MW Phase II gas based combined cycle power project, subject to conformity with the provisions of section 10(23G) and rule 2E; approval is liable to withdrawal if the enterprise ceases to carry on the infrastructure facility, fails to maintain and audit books of account as required, or fails to furnish the audit report.
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