Income tax exemption approval for infrastructure projects granted, subject to compliance, audited accounts and reporting requirements. Approval is granted to Fascel Ltd. for its cellular mobile telephone services project in Gujarat under the Income-tax Act exemption scheme for infrastructure undertakings and the corresponding rule, subject to compliance with statutory provisions, maintenance and audit of books of account, furnishing of the prescribed audit report, and the Central Government's power to withdraw approval if the enterprise ceases operations or fails to meet the audit and reporting conditions.