Under section 80IA(4)(iii) - Industrial Park of M/s. Tata Housing Development Company Limited, Mumbai notified - 124/2002 - Income Tax

Under section 80IA(4)(iii) - Industrial Park of M/s. Tata Housing Development Company Limited, Mumbai notified NOTIFICATION No.124 Dated 31st May,2002 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 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 S.0.354(E), dated the 1st April, 2002 for the period beginning on the Ist day of April, 1997 and ending on the 31st day of March, 2006; And, whereas M/s. Tata Housing Development Company Limited, Mumbai, having its registered office at NELCO Complex, Mahakali Caves Road, Chakala, Andheri (East), Mumbai-400 093, has developed, maintains and operates an industrial park which is defined as an infra-structural 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 sub-section (4) of section 80-IA of the said Act, the Central Government hereby notifies an undertaking developed and being maintained and operated by M/s. Tata Housing Development Company Limited, as an industrial park for the purposes of the said clause. SCHEDULE The terms and conditions on which the approval of Government of India has been accorded for setting up of an Technopolis Knowledge Park Limited, Mumbai. 1(i) Name of the Promoter/Industries: M/s. Tata Housing Development Company Limited. Undertaking (ii) Proposed location : Address:Mahalaki Caves Road,Chakala,Andheri (E) Distt: Mumbai , State: Maharastra ,Pin code: 400 093, Tel.No: 8393991, Fax No: 8322690 (iii) Propossed area of Industries park: 29,320.66 sq.mtrs (iv) Proposed activities : Electricity, gas and water, wholesale and retail trade and restaurants and hotels, communication services, data processing, software development and computer consultancy services, business and management consultancy activities, architectural and engineering and other consultancy activities, technical testing and analysis services. National Industries Classification Code Section 4, Section 6, Section 7(div 75) Section 8(Group 892,893, 894 895). (v) Percentage of allocable area proposed for industrial use: 97% (vi) Percentage of land ear-marked for commercila use: 03% (vii) Proposed No. of industries units: 109 units (viii) Total investments proposed : (Amount in rupees) 143131lacs (ix) Investment on built up space for: Industrial use (Amounts in Rupees) 13814 lacs (x) Investment on Infrastructure: Development. (Amount in Rupees) 13814 lacs 2. The minimum percentage of the area to be allocated for industrial use shall not be less than 66 percent 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 telecommunication installations, etc. 3. Industrial use shall include any activity denned in the National Industrial Classification 1987 code except the following codes: Section 0 Section 8 excluding Group 892. 893, 894, 895 Section 1 Section 9 Section 5 Section X . Section 7 Section XI excluding Division 75 4. The percentage of land to be earmarked for commercial use shall not be more than 10 percent 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 percent 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 percent 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 percent of the allocable industrial area of an Industrial Model Town or Industrial Park. For this purpose a unit means a separate taxable entity 8. Necessary approvals including that for Foreign Direct Investment or Non-Resident Indian Investment by the Foreign Investment Promotion Board or Reserve Bank of India, shall be taken separately as per the policy and procedure in force. 9. Technopolis Knowledge Park Limited, Mumbai shall continue to operate the Industrial Park during the period in which the benefits under section 801A of the Income-tax Act are to be availed, 10. The Central Government may withdraw the above approval in case the M/s. Tata Housing Development Company Limited, Mumbai 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, of failure on the part of the applicant to disclose any material fact, will invalidate this notification. Sd/- (I.P.S. Bindra) Under Secretary to the Govt. of India F. No. 178/45/2000-ITA-I