Notified a scheme for industrial park u/s 80-IA - 285(E) - Income Tax

Notified a scheme for industrial park u/s 80-IA NOTIFICATION NO. 285(E) DATED 28-3-2000 Whereas the Central Government, in exercise of the powers conferred by clause ( iii ) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961), hereinafter referred to as the said Act, has framed and notified a scheme for industrial park, in the notification of the Government of India in the Ministry of Industry and Commerce (Department of Industrial Policy and Promotion) vide No. S. O. 1201(E), dated 1st December, 1999, for the period beginning on the 1st day of April, 1997, and ending on the 31st day of March, 2002. And whereas, Western India Kinfra Limited, Palakkad, having its registered office at Kinfra House, TC No. 14/1026, Vallayambalam, Trivandrum-695 010, has developed, maintains and operates an industrial park which is defined as an infrastructural activity under the Income-tax Act, 1961. And whereas the Central Government has approved the said industrial park subject to certain terms and conditions mentioned in the Schedule to this notification Now, therefore, in exercise of the powers conferred by clause ( iii ) of subsection (4) of section 80-IA of the said Act, the Central Government hereby notifies an undertaking developed and being maintained and operated by Western India Kinfra Ltd., as an industrial park for the purposes of the said clause ( iii ). SCHEDULE The terms and conditions on which the approval of the Government of India has been accorded for setting up of an industrial park by the Western India Kinfra Limited, Palakkad, Kerala. 1. ( i ) Name of the promoter/industrial undertaking: Western India Kinfra Ltd. ( ii ) Proposed location : Address : Wise Park Pudu- ssery Central Village, New Industrial Development Area, Kanjikode (P.O.), Dist : Palakkad, State : Kerala, Pin Code : 678 007. ( iii ) Proposed area of industrial park : 750 acres ( iv ) Proposed activities : National Industrial Classifi- cation 1987 Code Sections 2 and 3 (division 20-39), section 4 (division 40 43), section 6 (division 60 69), section 7 (division 75 only) and section 8 (groups 892, 893, 894 and 895) ( v ) Percentage of allocable area proposed for indus trial use : 66.67 per cent. ( vi ) Percentage of land earmarked for commercial use : 10 per cent. ( vii ) Proposed number of industrial units 330 units ( viii ) Total investments proposed (amount in rupees) : 58.0142 crores ( ix ) Investment on built-up space for industrial use (amount in rupees): Nil ( x ) Investment on infrastructure development (amount in rupees): 41.1738 crores 2. The minimum percentage of the area to be allocated for industrial use shall not be less than 66% of the total allocable area. The allocable area will mean the net area, which is available for allocation for industrial, commercial or residential purpose and will exclude such area as is used for provision of common facilities like power, telecom, roads, green belt. In case of an industrial park which is making available the built-up space, the allocable area will mean the net floor area which is available for allocation and will exclude the built-up space used for locating common facilities like air-conditioning and other, telecommunications, installations, etc. 3. Industrial use shall include any activity defined in the National Industrial Classifi- cation 1987 code except the following codes : Section 0 Section 1 Section 5 Section 7 excluding division 75 Section 8 excluding Group 892, 893, 894, 895 Section 9 Section X Section XI 4. The percentage of land to be earmarked for commercial use shall not be more than 10 per cent. of the allocable area. 5. In case of an industrial model town and industrial park, the minimum investment on infrastructure development shall not be less than 50 per cent. of the total project cost. In the case of an industrial park which provides built-up space for industrial use, the minimum expenditure on infrastructure development including cost of construction of industrial space, shall not be less than 60 per cent. of the total cost. 6. Infrastructure development shall include expenditure on common facilities like roads (including approach roads), water supply and sewerage, common effluent treatment facility, generation and distribution of power for use of the units to be located in the industrial model town/industrial park, telecom network, etc., and such other facilities as are for common use for industrial activity which are identifiable and are provided on commercial terms. 7. No single unit in any project shall occupy more than 50 per cent. of the allocable industrial area of an industrial model town/industrial park. For this purpose a unit means a separate taxable entry. 8. Necessary approvals including that for foreign direct investment/non-resident Indian investment by the Foreign Investment Promotion Board/Reserve Bank of India, shall be taken separate as per the policy and procedure in force. 9. Wise Park, Pudussery Central Village Development area Kanjikode (P.O.), Palakkad, Kerala, shall continue to operate the industrial park during the period in which the benefits under section 80-JA of the Income-tax Act are to be availed. 10. The Central Government may withdraw the above approval in case the Western India Kinfra Ltd., Palakkad, Kerala,' fail to comply with any of the conditions stated above. 11. Any amendment of the project plan without the approval of the Central Government or detection in future, or failure on the part of the applicant to disclose any material fact, will invalidate the approval of the industrial park. [Notification No. 1129/F. No. 178/19/2000-ITA-I]