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Deductions - Profits and gains from industrial infrastructure undertakings, etc, Section 80-IA of the Income-tax Act, 1961 - Notified undertaking


 Notice Date : 15 July 2010

 Deductions - Profits and gains from industrial infrastructure undertakings, etc, Section 80-IA of the Income-tax Act, 1961 - Notified undertaking

 

Notification No. 54/2010Income Tax

 

[F.No.178/30/2009-ITA-I]

Dated 15-7-2010

 

 

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, vide 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. Infinity Infotech Parks Limited, having its registered address at infinity. Plot A3, Block-GP, Sector-V, Salt Lake Electronic Complex, Kolkata - 700091, has developed an Industrial Park at Plot No.G-1, Block-GP, Sector V. Salt Lake Electronics Complex, Kolkata - 700091;

 

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, and subject to the provisions of industrial Park Scheme, 2008 the Central Government hereby notifies M/s. Infinity Infotech Parks Limited, Kolkata as an undertaking and the project at plot No. G-1, Block-GP, Sector V. Salt Lake Electronics Complex, Kolkata - 700091, being developed and 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 28th March, 2008.

 

3. The notification will be invalid and M/s. Infinity Infotech Parks Limited shall be solely responsible for any repercussions of such invalidity, if -

 

(i)                  the application and subsequent document 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.

 

 

 

Guest
on 16 July 2010
Notification No : 54/2010Income Tax
Published in Income Tax
Source : ,










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