Notification No. 66/2008, Dated 30-5-2008
In exercise of the powers conferred by clause (ii) of the third proviso to sub-section (9) of section 80-IB of the Income-tax Act, 1961 (43 of 1961) the Central Government hereby notifies the following undertakings, being mineral oil refinery projects, for the purposes of the said sub-section, namely :—
(i) 15 MMTPA capacity refinery project of Indian Oil Corporation Ltd. at Paradip, Orissa;
(ii) 6 MMTPA capacity refinery project of Bharat Oman Refineries Ltd. at Bina, Madhya Pradesh;
(iii) 9 MMTPA capacity (with thruput around 12 MMTPA) refinery project of HPCL – Mittal Energy Ltd. at Bathinda, Punjab;
(iv) 3000 BOPD (387 TPD) capacity mini-refinery project of Oil & Natural Gas Corporation Ltd. at CPF, Gandhar, Ankleshwar, Gujarat;
(v) 5.31 MMTPA capacity Phase-III refinery project of Mangalore Refinery and Petrochemicals Ltd. at Mangalore, Karnataka;
(vi) 7.5 MMTPA capacity New Visakh refiner expansion project of Hindustan Petroleum Corporation Ltd. at Vishakapatnam, Andhra Pradesh;
(vii) 1500 BOPD (193 TPD) capacity unit II of mini-refinery project of Oil & Natural Gas Corporation Ltd., at Tatipaka, Rajahmundry, Andhra Pradesh; and
(viii) 3 MMTPA capacity Panipat refinery expansion project of Indian Oil Corporation at Panipat, Haryana.
2. The notification of the above shall be subject to conditions that —
(i) the mineral oil refinery projects constitute a separate undertaking within the meaning of section 80-IB of the Income-tax Act;
(ii) the undertaking begins refining of mineral oil not later than the 31st day of March, 2012; and
(iii) the undertaking continues to be wholly owned by a public sector company or any other company in which a public sector company or companies hold at least forty nine per cent of the voting rights.
[F. No. 142/5/2008-TPL]