Approval u/s. 10(23G) of the Income-tax Act, 1961 Monitoring of the same by the CCIT.

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....6. The section as amended by the Finance Act, 1997 provides for exemption of certain kind of income arising out of investment made by an Infrastructure Capital Fund or an Infrastructure Capital Company in an enterprise wholly engaged in the business of developing, maintaining and operating an infrastructure facility. The terms "Infrastructure Capital Fund", "Infrastructure Capital Company" and "In....

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....ping, maintaining and operating an infrastructure facility. Sub-rule (8) of Rule 2E of the Income-tax Rules, 1962 empowers the Central Government to withdraw the approval granted under certain circumstances. 3. Accordingly, it has been decided that the CCIT shall monitor every case to which approval u/s. 10(23G) of the Act has been granted to examine whether it continues to carry on the infrastru....