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, sti

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