It is hereby notified for general information that the organization M/s. iLABS Hyderabad Technology Centre Private 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. iLABS Hyderabad Technology Centre Private Ltd.
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.
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