NOTIFICATION NO. 182/2006, DATED 14-7-2006
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 notifications of the Government of India in the Ministry of Commerce and Industry (Department of Industrial Policy and Promotion) vide number S.O.193(E), dated the 30th March, 1999, for the period beginning on the 1st day of April, 1997 and ending on the 31st day of March, 2002 and vide number S.O. 354(E), dated the 1st day of April, 2002, for the period beginning on the 1st day of April, 1997 and ending on the 31st day of March, 2006;
AND WHEREAS M/s. Shyamaraju & Company (India) Privale Limited, ‘Divyasree Chambers’, ‘A’ Wing, No.11, O’Shaugnessy Road, Bangalore-560 025 has developed an Industrial Park namely, ‘Divyasree Towers’ at No. 55/A, Bannerghatta Road, Gurupanapalya, Bangalore;
AND WHEREAS the Central Government has approved the said Industrial Park vide Ministry of Commerce and Industry letter No. 15/09/05-IP&ID, dated 8-12-2005 subject to the terms and conditions mentioned in the annexure to this notification;
NOW, THEREFORE, in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the said Act, the Central Government hereby notifies the undertaking, developed and being maintained and operated by M/s. Shyamaraju & Company (India) Private Limited, Bangalore, as an Industrial Park for the purposes of the said clause (iii ).
|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. Shyamaraju & Company (India) Private Limited, Bangalore.|
|1.||(i) Name of the Industrial Undertaking||:||Divyasree Towers[undertaking of M/s. Shyamaraju &
Company (India) Private Limited]
|(ii) Proposed location||:||Divyasree Towers,No. 55/A, Bannerghatta Road,
|(iii) Area of Industrial Park||:||1,04,126 Square Feet|
|(iv) Proposed activities|
|Nature of Industrial activity with NIC code|
|B||8||89||892||—||Data Processing, software development and computer consultancy services|
|C||8||89||893||—||Business and management consultancy activities|
|D||8||89||894||—||Architectural and engineering and other technical consultancy activities|
|E||8||89||895||—||Technical testing and analysis services|
|(v) Percentage of allocable area earmarked for industrial use||:||90.01%|
|(vi) Percentage of allocable area earmarked for commercial||:||9.86%|
|(vii) Minimum number of industrial units||:||3 Units|
|(viii) Total investments proposed (Amount in Rupees)||:||2050 lakhs|
|(ix) Investment on built up space for Industrial use (Amount in Rupees).||:||800 lakhs|
|(x) Investment on Infrastructure Development including investment on built up space for industrial use (Amount in Rupees)||:||1915 lakhs|
|(xi) Proposed date of commencement of the Industrial Park||:||1-4-2005|
(i) the application on the basis of which the approval is accorded 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 approval has already been accorded in the name of another undertaking.
11.The conditions mentioned in this notification as well as those included in the Industrial Park Scheme, 2002 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 M/s. Shyamaraju & Company (India) Private Limited, Bangalore, fails to comply with any of the conditions.
[F. No. 178/20/2006-ITA-I]