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2011 (8) TMI 654 - HC - Income TaxIndustrial park in the nature of "pharmaceutical park" - Park approved by ministry of commerce however CBDT did not notify such parks - development work completed before 31.03.06 - Revenue contended out of 30 only 4 unit are functional, thus approval itself should be withdrawn - Held That:- undertakings,falls in three categories (a) those engaged in the business of developing ; (b) those engaged in the business of developing and operating ; and (c) those engaged in the business of maintaining and operating an industrial park. These are separate and distinct. petitioner approached the Central Government for developing an industrial park providing infrastructural facilities for pharmaceutical industries. not for developing and operating the industrial park, or for maintaining. Reliance also place on sub-rule (3) of rule 18C which requires CBDT to notify industrial park. Notice was quashed and revenue were asked to take consequential steps to interpret rule 18C with respect to the petitioner's industrial park.
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