Samalpatti Power gets approval under section 10(23G) for 2002-2005, contingent on compliance with Income-tax Rules.
M/s Samalpatti Power Company Ltd has been approved by the Central Government under section 10(23G) of the Income-tax Act, 1961, for the assessment years 2002-2003, 2003-2004, and 2004-2005. This approval, applicable to their 105.66 MW project in Tamil Nadu, is contingent upon compliance with section 10(23G) and rule 2E of the Income-tax Rules, 1962. The approval may be revoked if the company ceases infrastructure activities, fails to maintain audited accounts, or does not submit the required audit reports.
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