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TMI BlogMinutes of the 58th meeting of the SEZ Board of Approval held on 12th June 2013 to consider proposals for setting up Special Economic Zones and other miscellaneous proposalsX X X X Extracts X X X X X X X X Extracts X X X X ..... rrent financial year, up to 11.06.2013, have been to the tune of ₹ 4,76,159 crores registering a growth of about 31.% over the exports of the corresponding period of FY 2011-12. Item No.58.1 : Requests for co-developer All BoA sanctioned approvals to co-developers are subject to the condition that particular terms and conditions of lease agreement/co-developer agreement will not have any bearing on the treatment of the income by way of lease rentals/down payment/premium etc., for the purposes of assessment under the prevalent Income Tax Ac t and Rules . The Assessing Officer, will have the right to examine the taxability of these amounts under the SEZ Act and Income Tax Act as applicable. This is applicable to all the cases of co-developers approved by the BoA in this meeting. The Board further directed that proposals for grant of codeveloper status should be accompanied by lease deed/draft lease deed which must inter-alia contain the details of financial transactions/arrangements between developer and proposed co-developer. The decisions of the BoA on the proposals are as under:- (i) Request of M/s. SunTec Infrastructure Private Limited for co-developer in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /s. Parsvnath Infra Ltd. for de-notification of the sector specific SEZ for IT/ITES at Sohna Road, Gurgaon, Haryana, notified over an area of 42.7045 hectares. The approval is subject to the DC furnishing a certificate in the prescribed format certifying inter alia that the developer has either not availed or has refunded all the tax/duty benefits availed under SEZ Act / Rules in respect of the area to be de-notified, there are either no units in the SEZ or the same have been debonded, the State Govt has no objection to the de-notification proposal etc. (ii) Request from M/s Biological E. Limited, a sector specific SEZ for Biotechnology at Kolthur village, Shameerpet Mandal, Ranga Reddy District, Andhra Pradesh, for denotification of its SEZ notified over an area of 10.347 hectares. After deliberations, the Board decided to approve the proposal of M/s. Biological E. Limited for de-notification of the sector specific SEZ for Biotechnology at Kolthur village, Shameerpet Mandal, Ranga Reddy District, Andhra Pradesh, notified over an area of 10.347 hectares. The approval is subject to the DC furnishing a certificate in the prescribed format certifying inter alia that the dev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unless some progress has been made on ground by the developers. The Board, therefore, after deliberations, extended the validity of the formal approval to the requests for extensions beyond fifth years for a period of one year and those beyond sixth year for a period of 6 months from the date of expiry of last extension . (i) Request for further extension of LoA from M/s. HBS Pharma SEZ Pvt. Ltd. for setting up of Pharmaceutical SEZ at GIDC, Panoli Industrial Estate, Panoli, District Bharuch, Gujarat beyond 16th June, 2013 (beyond 5th year) The Board after deliberations extended the validity of the formal approval for one year up to 16th June, 2014. (ii) Request for further extension of LoA from M/s. Ananth Technologies Limited for setting up of IT/ITES SEZ at Sy. No. 1/1, Raviryala Village, Maheswaram Mandal, Ranga Reddy District, Andhra Pradesh beyond 16th March 2013 (beyond 5th year) The Board after deliberations extended the validity of the formal approval for one year up to 16th March, 2014 and also directed DC VSEZ to consult the State Government on the issue relating to imposition of No Development Area by DRDO (iii) Request for further extension of LoA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... year) The Board after deliberations extended the validity of the formal approval for one year up to 22nd June, 2014. (x) Request of M/s. Vedanta Aluminium Limited for extension of the validity period of formal approval, granted for setting up of sector specific SEZ for Manufacture and Export of Aluminium at village Bhurkamunda Bhagkipalli Tehsil District Jharsuguda, Orissa beyond 22nd May, 2013 (beyond 6th year) The Board after deliberations extended the validity of the formal approval for one year up to 22nd May, 2014. (xi) Request of M/s. Mangalore SEZ Limited for extension of the validity period of formal approval, granted for setting up of sector specific SEZ for Petrochemicals and Petroleum at Baikampady, Mangalore, Dakshina Canara District, Karnataka beyond 29th July 2013 (beyond 6th year) The Board after deliberations extended the validity of the formal approval for one year up to 29th July, 2014. (xii) Request of M/s. G.P. Realtors Private Limited for fourth extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES at village Behrampur, District Gurgaon, Haryana, beyond 13th November 2012 (bey ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oval for one year up to 30th May, 2014. (xix) Request of M/s. Platinum Holdings Pvt. Ltd. for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for Hardware and Software at Navallur village, Chengulpet Taluk and Semmencherry village, Tambaram Taluk, Kancheepuram District, Tamil Nadu, beyond 5th May 2013 (beyond 6th year) The Board after deliberations extended the validity of the formal approval for one year up to 5th May, 2014. (xx) Request of M/s. Dr. Fresh Health Care Pvt. Ltd. for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES at Ghamroj, Tehsil Sohna, Gurgaon, Haryana, beyond 25th June 2013 (beyond 6th year) The Board after deliberations extended the validity of the formal approval for one year up to 25th June, 2014. (xxi) Request of Karnataka Industrial Areas Development Board (KIADB) for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES at Mangalore, Karnataka beyond 26th June 2013 (beyond 6th year) The Board after deliberations extended the validity of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... year up to 30th June, 2014. (vi) Request of M/s. Cura Technologies Limited, a unit in APIIC SEZ for extension of Letter of Permission (LOP) beyond 17th December 2012 (beyond 5th year) The Board after deliberations extended the validity of the LoP up to 17th December, 2013. (vii) Request of DC VSEZ to ratify the extension of validity of LoA for a period of four months, granted to M/s. Softsol India Limited, a unit in IT/ITES SEZ developed by M/s. APIIC at Madhurwada, Visakhapatnam as the unit has since commenced operation The Board after deliberations ratified the decision of DC VSEZ to extend the validity of LoP of the unit up to 15th April, 2013. (viii) Request of M/s. Wipro Limited, a unit in ELCOT SEZ, Vilankurichi village, Coimbatore, Tamil Nadu for extension of LoP beyond 3rd December 2012 (beyond 6th year) The Board after deliberations extended the validity of the LoP up to 3rd December, 2013. (ix) Request of M/s Pidilite Industries, a unit in multi-product SEZ developed by Dahej at Bharuch Gujarat for extension of validity period of its LoP beyond 15th August, 2013 The Board after deliberations extended the validity of the LoP for a period of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ter deliberations approved the above proposal, subject to the following conditions:- (i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity; (ii) Fulfillment of all eligibility criteria applicable to developers, including security clearances etc., by the altered developer entity and its constituents; (iii) Applicability of and compliance with all Revenue / Company Affairs /SEBI etc. rules which regulate issues like capital gains, equity change, transfer, taxability etc. (iv) Full financial details relating to the transfer of equity shall be furnished immediately to the Member (IT) CBDT, Department of Revenue. (v) The assessing officer under the Income Tax Act, 1961 , shall have the right to assess the taxability of the amount arising out of the transfer of equity. (vi) The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. (iii) Request from Petroleum and Natural Gas for grant of access for drilling/exploration activities by ONGC in the Sterling SEZ and Infrastructure Limited at Vadodara, Gujarat The Board after delibe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts from one SEZ to another, all similar cases of transfer / relocation of unit(s) from one SEZ to another should be processed by DoC on file in future. (viii) Request of M/s. Sony India Software Centre Pvt. Ltd. (SISCPL), a unit in Vrindavan Tech Village SEZ, Bangalore for expansion of its production capacity by occupying additional space in nearby RMZ Ecoworld Infrastructure Pvt. Ltd. SEZ, Bangalore The Board after hearing the presentations made by the representatives of M/s. SISCPL, and after deliberations approved the proposal of the unit for its expansion in another SEZ as a fresh unit. The new unit would apply for a fresh LOA. The Board however observed SISCPL seeks to expand its existing business and has voluntarily committed that it would view the income-tax benefits of the new facility as co-terminus with that of its existing SEZ Unit and would restrict its claim of the income-tax benefit to the unexpired period only. In this manner SISCPL seeks to facilitate free movement of people and contracts between these two units. BOA observed that the apprehensions regarding the treatment of the issue of movement of employees / contracts from its existing unit in one SEZ to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... BoA meeting held on 15th March, 2013 but sought adjournment as his representative is unable to attend the hearing. The Board noted that the applicant has again sought adjournment of his appeal as his representative is unable to attend the hearing. After deliberations, the Board dismissed the appeal exparte. Item No. 58.9: Miscellaneous issues with the permission of the Chair BoA was informed that the guidelines for the plastic recycling SEZ units and those in the business of recycling of old and worn clothing are nearing finalization. Accordingly it was decided that the validity of the LoPs of the units in the business of plastic recycling and worn and used clothing in the SEZs be extended till 30 September 2013 or till such time the guidelines are finalized, whichever is earlier. The meeting ended with a vote of thanks to the Chair. *********** Annexure - 1 List of Participants for the Meeting of the Board of Approval for Special Economic Zones held on 12th June, 2013 under the Chairmanship of Commerce Secretary, Department of Commerce 1. Shri S. R. Rao, Chairman BOA Secretary, Department of Commerce. 2. Ms. Sandhya Baliga, Member (Custom a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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