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Case law › Notifications › 2004 › Notification No. 272
Notification 1 November 2004

Notification No. 272

Income Tax Notification No: 272 (01-Nov-04) Renewal of Approval to enterprise/undertaking by the Central Government

What this is

Notification No. 272 was published on 1 November 2004. Its subject is Income Tax Notification No: 272 (01-Nov-04) Renewal of Approval to enterprise/undertaking by the Central Government.

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 : 272

Section(s) Referred : Section 10

Date of Issue : 1/11/2004

Notification No. 272 of 2004, dt. 1st Nov., 2004

Income Tax Notification No: 272 (01-Nov-04) Renewal of Approval to enterprise/undertaking by the Central Government

It is notified for general information that approval to the enterprise/undertaking, listed at para (3) below has been renewed 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 with effect from the Assessment Year 2004-05 to (Assessment Year 2010-2011 (upto 28.11.2009) i.e. end of period of 15 years as mentioned in the Lease deed dt. 22.10.1999 entered into with the Board of Trustees ofJawaharlal Nehru Port Trust, Sheva, New Mumbai-400 707, or earlier in the event of violation of terms of the lease deed as aforesaid.

2. The approval is subject to the conditions that -

(i) the enterprise/undertaking 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/undertaking:-

(a) ceases to carry on the eligible business as denned in Explanation (b) to Rule 2E of I.T. Rules, 1962; or

(c) fails to furnish the audit report as required by sub-rule (6) of rule 2E of the Income-tax Rules, 1962

3. The enterprise/undertaking approved is -

M/s Viraj Agro Products Pvt. Ltd, 86, West Peiraswamy Road, R.S. Pur-am, Coimbatore-641 002 for their project of developing, maintaining and operating of bulk liquid storage terminal at Jawaharlal

Nehru Port, Sheva, New Mumbai under the agreement dated 22.10.1999 between M/s Viraj Agro Products Pvt. Ltd. and the Board of trustees of Jawaharlal Nehru Port Trust, Sheva, New Mumbai-400 707.

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 No. 273  ·  Notification No. 271 →

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.