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TMI BlogMinutes of the 99th meeting of the Board of Approval for SEZ held on 31st July, 2020 to consider setting up of Special Economic Zones and other miscellaneous proposalsX X X X Extracts X X X X X X X X Extracts X X X X ..... Panoli Industrial Estate, District Bharuch, Gujarat beyond 16.06.2020. The Board, after deliberations, approved extension of validity of formal approval for a period of one year, i.e. upto 16.06.2021. Item No. 99.3 Extension of validity of LoA of units (three proposals) 99.3(i) Request of M/s. CTR Manufacturing Industries Ltd. for 3rd extension of the validity period of LoA granted for setting up Unit for manufacturing of Nitrogen Injection Explosion prevention and Fire Extinguishing systems at Plot No. AL 25 AL 26, Five Star Industrial Area, Shendra, Aurangabad. The Board, after deliberations, approved extension of validity of LoA for a period of one year, i.e. upto 18.07.2021. 99.3(ii) Request of M/s Rusan Pharma Ltd. in Indore SEZ for extension of LoA beyond 01.12.2019 for one year up to 01.12.2020. The Board, after deliberations, approved extension of validity of LoA for a period of one year upto 01.12.2020. 99.3(iii) Request of 10 units for 3rd extension of Letter of Approvals in Multi Services SEZ at Ratanpur, District Gandhinagar, Gujarat, developed by M/s. GIFT SEZ Ltd. The Board, after deliberations, approved extension of validity of LoA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ue and to the jurisdictional Authority. v. The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961. vi. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. vii. The developer shall furnish details of PAN and jurisdictional assessing officer of the developer to CBDT. Item No. 99.5 Request for co-developer status (one proposal) 99.5(i) Request of M/s. Wegmans Trustone Commercial Projects LLP for Co-developer status in the IT/ITES SEZ of M/s. Artha Infratech Pvt. Ltd. located at Plot No. 21, Sector-Techzone IV, Greater Noida (Uttar Pradesh). The Board, after deliberations, approved the proposal of M/s. Wegmans Trustone Commercial Projects LLP as a Co-developer for conversion of warm shell to total ready to move in infrastructure to be leased out to various SEZ units for export including maintaining and managing facility management over two floors (9 th 10 th fl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mittee as stipulated in terms of Rule 55 of the SEZ Rules for filing an appeal. Thus the appeal does not come in the purview of BoA. (ii) Further, the appeal is hit by limitation of time. (iii) DoC has vide Instruction no. 96 dated 31.07.2019 already provided guidelines for clearance of unclaimed and abandoned goods kept in SEZs/FTWZs. Further, vide letter dated 01.05.2020 necessary clarification was issued to DC, VSEZ and they were requested to follow the auction procedure as prescribed in Section 150 of the Customs Act, 1962 after ensuring that the material to be auctioned is free from encumbrances. Accordingly, the Board, after deliberations decided that the appeal is inadmissible. Decision on Supplementary Agenda 99.8 Proposal for setting up of new SEZ (one proposal) 99.8(i) Request of Department of Information Technology, Government of Sikkim for setting up of an IT/ITES SEZ at Namli, 8th Mile, Ranipol, East Sikkim over an area of 6.82 Hectares. The Board, after deliberations, decided to grant an In-principle approval to the developer. 99.9 Change of name/shareholding pattern of the co-developer (Two proposals) 99.9(i) Proposal for chang ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority. v. The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961. vi. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. vii. The co-developer shall furnish details of PAN and jurisdictional assessing officer of the codeveloper to CBDT. 99.10 Request of co-developer for additional area (Three cases) 99.10 (i) Application of Co-Developer, M/s. ATS savvy Developers LLP in GIFT Multi Services SEZ for approval of Authorized Operations. The Board, after deliberations, approved the proposal of M/s. ATS Savvy Developers LLP, co-developer for authorized operations i.e. 'multi-level car parking' to be undertaken in the additional area of 2888 sq. mtrs. of the Processing Area in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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