9911796707
TMI BlogFor the purpose of Section 80IA(4)(iii) - Industrial Part of M/s. Akruti Nirman Limited, Mumbai notifiedX X X X Extracts X X X X X X X X Extracts X X X X ..... E), dated the 30th March, 1999, for the period beginning on the 1st day of April, 1997 and ending on the 31st day of March, 2002 and vide number S.O. 354(E) dated the 1st day of April, 2002, for the period beginning on the 1st day of April, 1997 and ending on the 31st day of March, 2006; And whereas M/s. Akruti Nirman Limited, Mumbai, Akruti Trade Centre, Road No.7, Marol MIDC, Andheri (East), Mumbai-400 093, is developing an Industrial Park namely, Akruti Centre Point at Central Road, Pocket No.4, Near M.T.N.L. Office, MIDC Marol, Andheri (East), Mumbai-400 093; And whereas the Central Government has approved the said Industrial Park vide Ministry of Commerce and Industry letter No. 15/43/05-IP&ID dated 9.12.2005 subject to the terms and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proposed (Amount in Rupees) 41.76 Crores (ix) Investment on built up space for Industrial use (Amount in Rupees). : 34.57 Crores (x) Investment on Infrastructure Development including investment on built up space for industrial use (Amount in Rupees) : 39.44 Crores (xi) Proposed date of commencement of the Industrial Park 31-12-2005 2. The minimum investment on infrastructure development in an Industrial Park shall not be less than 50% 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% of the total project cost. 3. Infrastructure develo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ra 1 (xi) of this notification, fresh approval will be required under the Industrial Park Scheme, 2002, for availing benefits under sub-section 4(iii) of section 80-IA of the Income-tax Act, 1961. 9. The approval will be invalid and M/s. Akruti Nirman Limited, Mumbai, shall be solely responsible for any repercussions of such invalidity, if (i) the application on the basis of which the approval is accorded by the Central Government contains wrong information/misinformation or some material information has not been provided in it. (ii) it is for the location of the industrial park for which approval has already been accorded in the name of another undertaking. 10.In case M/s. Akruti Nirman Limited, Mumbai, transfers the operation and main ..... X X X X Extracts X X X X X X X X Extracts X X X X
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