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TMI BlogFor the purpose of Section 80IA(4)(iii) - Industrial Part of M/s. Varsha Ritu Constructions Private Limited, Mumbai notifiedX X X X Extracts X X X X X X X X Extracts X X X X ..... olicy and Promotion) vide number S.O. 193(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 31Jt day of March, 2006; And whereas M/s. Varsha Ritu Constructions Private Limited, Happy Home, 1st Floor, 244, Waterfield Road, Bandra (West), Mumbai 400 050, is developing an Industrial Park at City Survey No. 779, Makwana Road, Marol Village, aluka -Marol, District - Andheri, Mumbai, Maharashtra - 400 059; And whereas the Central Government has approved the said Industrial Park vide Ministry of Commerce and Industry letter No. 15/207 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (vi) Percentage of allocable area earmarked for commercial use : 9.57% (vii) Minimum number of industrial units : 03 Units (viii) Total investments proposed (Amount in Rupees) : 2000 lakhs (ix) Investment on built-up space for Industrial use (Amount in Rupees). : 1200 lakhs (x) Investment on Infrastructure Development including investment on built-up space for industrial use (Amount in Rupees) : 1900 lakhs (xi) Proposed date of commencement of the Industrial Park : March, 2006 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 i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of section 80-IA of the Income-tax Act, 1961 are to be availed. 8. In case the commencement of the Industrial Park is delayed by more than one year from the date 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. Varsha Ritu Constructions Private 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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