Section 80-IA of the Income-tax Act, 1961 – Deductions -Profits and gains from industrial infrastructure undertakings, etc. – Notified undertakings
Notification No. 73/2010[F.No. 178/97/2008-ITA.1], dated 22-9-2010
Whereas the Central Government in exercise of the powers conferred by 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), has framed and notified a scheme for industrial park, by the notification of the Government of India in the Ministry of Finance (Department of Revenue, Central Board of Direct Taxes) number S.O. 51(E), dated the 8th January, 2008.
And whereas M/s. Shyam Developers, having its registered address at A-l, Shivshakti Shopping Centre, Opp. Samratnagar, Isanpur, Ahmedabad-382443, has developed an Industrial Park at Plot Nos. 75/1 + 75/2/1 , [O.P.No. 89/1, 91 to 94 + 95/1 + 97 F.P.No 89/1 + (91 to 94 + 95/1 + 97/1), T.P. No. 107 (RAMOL), S.No. 636/1, 636/2 (638+639+640+641+642/A/P) + 644,] RAMOL, Daskroi, Ahmedabad, Gujarat
Now, therefore, in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the said Act read with Rule 18C of the Income Tax Rules, 1962, the Central Government hereby notifies M/s. Shyam Developers as an undertaking and the project at Plot Nos. 75/1 + 75/2/1, [O.P.No. 89/1, 91 to 94 + 95/1 + 97 F.P.No 89/1 + (91 to 94 + 95/1 + 97/1), T.P. No. 107 (RAMOL), S.No. 636/1, 636/2 (638+639+640+641+642/A/P) + 644,] RAMOL, Daskroi, Ahmedabad, Gujarat being developed and being maintained and operated by the said undertaking, as an industrial park for the purposes of the said clause.
2. The date of commencement of the aforesaid industrial park is 31st March, 2009.
3. The notification will be invalid and M/s Shyam Developers, Ahmedabad, shall be solely responsible for any repercussions of such invalidity, if
(i) the application and subsequent documents furnished by it, on the basis of which the notification is issued by the Central Government contains wrong information/misinformation or, some material information has not been provided in it.
(ii) it is for the location of the industrial park for which notification has already been issued in the name of another undertaking.
4. 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.