9911796707
TMI BlogSECTION 80-IA(4)(III) OF THE INCOME-TAX ACT, 1961 - DEDUCTIONS - IN RESPECT OF PROFITS AND GAINS FROM INDUSTRIAL UNDERTAKINGS, ETC., IN CERTAIN CASES - NOTIFIED Industrial Part of M/s. Hiranandani Builders, MumbaiX X X X Extracts X X X X X X X X Extracts X X X X ..... d Act), has framed and notified a scheme for industrial park, by the notifications of the Government of India in the Ministry of Commerce and Industry (Department of Industrial Policy and Promotion) vide number S.O.193(F), 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. VITP Private Limited, Plot No. 17, Software Units Layout, Serilingampally Municipality, Ranga Reddy District, Hyderabad, Andhra Pradesh 500 082, is developing an Industrial Park at "CAPELLA", Plot Mo. 17, Software Units Layo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... services. (v) Percentage of allocable area earmarked for Industrial use : 90% (vi) Percentage of allocable area earmarked for commercial use : 10% (vii) Minimum number of industrial units : 4 Units (viii) Total investments proposed (Amount in Rupees) : 2869 lakhs (ix) Investment on built up space for Industrial use (Amount in Rupees) : 2433 lakhs (x) Investment on Infrastructure Development including investment on built up space for industrial use (Amount in Rupees) : 2869 lakhs (xi) Proposed date of commencement of the Industrial Park : 15-07-2005 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n which the benefits under clause (iii) of sub-section (4) 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. VITP Private Limited, Hyderabad, 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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