VittSphere ONE Calculators Blog CA Prabhakar Kumar · FCA · ICAI 560762
Calculators Blog Handle my notice
Case law › Notifications › 2005 › Notification No. 12
Notification 24 January 2005

Notification No. 12

Approval of an institution under section 10 of the Income-tax Act, 1961

What this is

Notification No. 12 was published on 24 January 2005. Its subject is Approval of an institution under section 10 of the Income-tax Act, 1961.

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. 12/2005, DATED 24-1-2005

It is notified for general information that the enterprise/undertaking, 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 with effect from the Asstt. Year 2001-02 to Asstt. Year 2013-14 (upto 28.08.2012) i.e. for a period of 14 years 1 month as per agreement dt.29.07.1998 between Maharashtra State Road Development Corporation Ltd and M/s Nashik Infrastructure Developers Pvt Ltd, or earlier, in the event of violation of the terms of the agreement 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 defined in Explanation (b) to Rule 2E of I.T. Rules, 1962; or
(b) fails to maintain books of account and get such accounts audited by an accountant as required by sub-rule (6) of rule 2E of the Income-tax 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 Nashik Infrastructure Developers Ltd, Poddar House, Patil Lane No.3, College Road, Nashik-422005, Maharashtra for their project of construction of bypass road to Ahmednagar-Karmala-Tembhurni Road, State Highway 141, outside Karmala Town including Mangi Bridge and its approaches on Build, operate and transfer (BOT) basis as per agreement dt.29.07.1998 between Maharashtra State Road Development Corporation Ltd and M/s Nashik Infrastructure Developers Pvt Ltd (F. No 205/16/2002 -ITA-II).

[F.NO.205/16/2002/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 No. 13  ·  Notification No. 11 →

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.