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of <h1>Central Government renews tax approval for Madurai Power Corporation under section 10(23G) of Income-tax Act, 1961.</h1> The Central Government has renewed the approval for M/s Madurai Power Corporation Private Limited under section 10(23G) of the Income-tax Act, 1961, effective from the assessment year 2004-05. This approval is contingent upon compliance with the relevant provisions of the Income-tax Act and Rules. The approval may be revoked if the company ceases its eligible business, fails to maintain and audit its accounts, or does not furnish the required audit report. The approved project is a 106 MW Diesel Engine Power Project located in Samayanallur, Madurai District, Tamil Nadu.
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