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of <h1>Reliance Petalganga Power gets renewed tax approval under Section 10(23G); must meet specific conditions by 2006.</h1> The Central Government has renewed the approval for M/s Reliance Petalganga Power Limited under section 10(23G) of the Income-tax Act, 1961, effective from the assessment year 2003-04. This approval is contingent upon the enterprise complying with the provisions of section 10(23G) and rule 2E of the Income-tax Rules, 1962. The approval will be withdrawn if the enterprise ceases eligible business activities, fails to maintain and audit accounts, or does not furnish the required audit report. Additionally, the enterprise must begin power generation from its 447 MW project by March 31, 2006, to maintain this approval.
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