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of <h1>Government Approves 440 MW Gas Power Project in Andhra Pradesh u/s 10(23G) for Tax Exemption.</h1> The Central Government has approved an enterprise for the purpose of section 10(23G) of the Income-tax Act, 1961, for the assessment years 2002-2003, 2003-2004, and 2004-2005. The approval is contingent upon compliance with section 10(23G) and rule 2E of the Income-tax Rules, 1962. The approval may be revoked if the enterprise stops operating the infrastructure facility, fails to maintain and audit its accounts, or does not submit the required audit report. The approved project is a 440 MW gas-based power project in Andhra Pradesh.
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