SECTION 80-IA, SUB-CLAUSE (iii) OF SUB-SECTION (4) OF THE INCOME-TAX ACT, 1961 – DEDUCTIONS – IN RESPECT OF PROFITS AND GAINS FROM INDUSTRIAL UNDERTAKINGS, OR ENTERPRISES ENGAGED IN INFRASTRUCTURE DEVELOPMENT, ETC. – NOTIFIED UNDERTAKINGS – AMENDMENT IN NOTIFICATION NO.SO 1605(E), DATED 2-7-2008

It is hereby notified for general information that the organization M/s. Ferani Hotels Pvt. Ltd. and M/s. India Land and Properties Pvt. Ltd. has been approved by the Central Government as an industrial park for the purpose clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961(43 of 1961)(hereinafter referred to as the said Act). It clarifies the terms and conditions on which the approval of the Government of India has been accorded for setting up of an Industrial Park by M/s. Ferani Hotels Pvt. Ltd., Mumbai and M/s. India Land and Properties Pvt. Ltd., Chennai.

The conditions mentioned in this notification as well as those included in the Industrial Park (Amendment) Scheme, 2010 should be adhered to during the period for which benefits under this scheme are to be availed. The Central Government may withdraw the above approval in case the undertaking fails to comply with any of the conditions.

Any amendment of the project plan without the approval of the Central Government or detection in future, or failure on the part of the applicant to disclose any material fact, will invalidate the approval of the industrial park.

To view full notification for M/s. Ferani Hotels Pvt. Ltd click here

To view full notification for  M/s. India Land and Properties Pvt. Ltd click here

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s