Tax exemption under section 10(23G) granted to infrastructure developer, subject to compliance and audit requirements. Approval is granted to M/s Rajahmundry Expressway Ltd for tax exemption under section 10(23G), read with rule 2E, for specified assessment years for its BOT project to develop, maintain and operate a four lane carriageway on National Highway No. 5. The approval is conditional on compliance with statutory provisions, maintenance of books, audit by an accountant and furnishing the required audit report; the Central Government may withdraw approval if the undertaking ceases the infrastructure activity or fails to meet the audit and reporting requirements.
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Tax exemption under section 10(23G) granted to infrastructure developer, subject to compliance and audit requirements.
Approval is granted to M/s Rajahmundry Expressway Ltd for tax exemption under section 10(23G), read with rule 2E, for specified assessment years for its BOT project to develop, maintain and operate a four lane carriageway on National Highway No. 5. The approval is conditional on compliance with statutory provisions, maintenance of books, audit by an accountant and furnishing the required audit report; the Central Government may withdraw approval if the undertaking ceases the infrastructure activity or fails to meet the audit and reporting requirements.
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