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Case law › Notifications › 2002 › Notification: 116 Date of Issue : 23/5/2002
Notification 23 May 2002

Notification: 116 Date of Issue : 23/5/2002

2002 It is notified for general information that enterprise listed at para (3) below approved under section 10

What this is

Notification: 116 Date of Issue : 23/5/2002 was published on 23 May 2002. Its subject is 2002 It is notified for general information that enterprise listed at para (3) below approved under section 10.

This is an approval of a named institution. It affects that institution and the people who deal with it; the years it covers are stated in it and are the whole of its reach.

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.
Under the 1961 ActNow
s.10s.11, s.19

The instrument, as the Board published it

The words below are the department’s own, reproduced from its published text. Where the department’s copy carried a publisher’s notes after the instrument, those are not reproduced.

Notification No : 116

Date of Issue : 23/5/2002

Section(s) Referred : s. 10(23g)

Notification No. 116 of 2002, dt. 23rd May, 2002

It is notified for general information that enterprise listed at para (3) below has been approved by the Central Government for the purpose of section 10(23G) of the Income-tax Act, 1961, read with rule 2E of the Income-tax Rules, 1962, for the assessment years 2001-2002, 2002-2003 and 2003-2004.

2. The approval is subject to the condition that--

(i) the enterprise will conform to and comply with the provisions of section 10(23G) of the Income-tax Act, 1961, read with rule 2E of the Income-tax Rules, 1962;

(ii) the Central Government shall withdraw this approval if the enterprise:

(a) ceases to carry on infrastructure facility; or

(b) fails to maintain books of account and get such accounts audited by an accountant as required by sub-rule (7) of rule 2E of the Income-tax Rules, 1962; or

(c) fails to furnish the audit-report as required by sub-rule (7) of rule 2E of the Income-tax Rules, 1962.

3. The enterprise approved is--developing, maintaining and operating bulk liquid storage terminals at New Mangalore Port by M/s Universal Ago Produce Exports (P) Ltd., 76, C.P. Ramaswamy Road, Alwarpet, Chennai-600018, under the agreement dated 13th June, 1997 between M/s Universal Agro Produce Exports (P) Ltd. and the trustees of the Port of New Mangalore.

[F.No. 205/71/2000-ITA-II]

What it names

Rules it names. Rule 2E of the Income-tax Rules, 1962. The 1962 Rules were replaced by the Income-tax Rules, 2026, which renumbered nearly everything: a rule number quoted here almost never means the same rule today.

On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

← Notification: 117 Date of Issue : 23/5/2002  ·  Notification: 115 Date of Issue : 22/5/2002 →

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.