Section 80IA(4)(iii): Deduction for approved industrial park cannot be denied by CBDT being merely a notifying authority

Brief of the Case ITAT Hyderabad held In the case of VITP Pvt. Ltd vs. DCIT that as per sub-rule (4) of Rule 18C of Income Tax Rules, it is clear that on approval by the central govt., CBDT is only required to notify the industrial park for benefit u/s 80IA (4)(iii).Therefore, when the central govt. in the Ministry of Commerce and Industry is the competent authority to grant approval to an industrial park u/s 80IA (4) (iii) and such authority having not imposed any condition, stipulating that no single unit shall occupy more than 50% of the allocable industrial area, CBDT being merely a notify...