For the purpose of Section 80IA(4)(iii) - Industrial Part M/s. Magarpatta Township Development and Construction Company Limited, Pune notified

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... stry (Department of Industrial Policy and Promotion) vide S.O. No. 193(E), dated the 30th March, 1999, for the period beginning on the 1stday of April, 1997 and ending on the 31st day of March, 2002 and vide S.O. No. 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. Magarpatta Township Development and Construction Company Limited, Megaspace, 13 Sholapur Bazar Road, Off East Street, Pune-411 001, is developing an Industrial Park at Cybercity Magarpatta, 143, Magarpatta City, Hadapsar, Pune-411 028, Maharashtra; And whereas the Central Government has approved the said Industrial Park vide Ministry of Commerce and Industry letter No. 15 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... use (Amount in Rupees). : 61.35 crores (x) Investment on Infrastructure Development including investment on built up space for industrial use (Amount in Rupees) : 123.74 crores (xi) Proposed date of commencement of the Industrial Park : Tower 1 15th December, 2003 Tower II August, 2004 Tower III December, 2004 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 development shall include, roads .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... indicated in Para 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. Magarpatta Township Development and Construction Company Limited, 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. Magarpatta T .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X