Notified a scheme for industrial park, u/s 80-IA - 11291 - Income Tax

Notified a scheme for industrial park, u/s 80-IA NOTIFICATION NO. 11291 DATED 28-3-2000 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 said Act), has framed and notified a scheme for industrial park, in the notification of the Government of India in the Ministry of Industry and Commerce (Department of Industrial Policy and Promotion) vide S.O. 1201(E), dated the 1st December, 1999 [published at (2000) 158 CTR (St) 43] for the period beginning on the 1st day of April, 1997 and ending on the 31st day of March, 2002 ; And, whereas, M/s Western India Kinfra Limited, Palakkad, having its registered office at Kinfra House, TC No. 14/1026, Vallayambalam, Trivendrum-695010, has developed, maintains and operates an industrial park which is defined as an infrastructural activity under the Income-tax Act, 1961 ; And, whereas, the Central Government has approved the said Industrial Park subject to certain terms and conditions mentioned in the Schedule 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 an undertaking developed and being maintained and operated by M/s International Tech Park Limited, as an industrial park for the purposes of the said clause ( iii ). SCHEDULE The terms and conditions on which the approval of the Central Government has been accorded for setting up of an industrial park by the M/S Western Indian Kinfra Limited, Palakkad, Kerala. 1. ( i ) Name of the promoter/industrial M/s Western India Kinfra Limited. undertaking ( ii ) Proposed location Address : Wise Park Pudussery Central Village, New Industrial Development Area, Kanjikode (P.O.). Distt. : Palakkad. State : Kerala. Pin Code : 678 007. ( iii ) Proposed area of Industrial Park 750 acres. ( iv ) Proposed activities National Industrial Classification 1987 Code Section 2 3 (division 20-39), Section 4 (division 40-43), Section 6 (division 60-69), Section 7 (div. 75 only) and Section 8 (Group 892, 893, 894 895). ( v ) Percentage of allocable area 66.67% proposed for industrial use ( vi ) Percentage of land ear-marked for 10% commercial use. ( vii ) Proposed No. of industrial units 330 units. ( viii ) Total investments proposed 58.0142 crores. (amount in Rupees) ( ix ) Investment on built up space for Nil Industrial use (amounts in Rupees). ( x ) Investment on Infrastructure 41.1738 crores. Development (amount in Rupees) 2. The minimum percentage of the area to be allocated for industrial use shall not be less than 66 per cent of the total allocable area. The allocable area will mean the net area, which is available for allocation for industrial, commercial or residential purposes and will exclude such area as is used for provision of common facilities like power, telecom, roads, green belt. In case of an Industrial Park which is making available the built up space, the allocable area will mean the net floor area which is available for allocation and will exclude the built up space used for locating common facilities like air-conditioning and other telecommunication installations, etc. 3. Industrial use shall include any activity defined in the National Industrial Classification (1987) code except the following codes : Section 0 Section 1 Section 5 Section 7 excluding Division 75 Section 8 excluding Group 892, 893, 894, 895 Section 9 Section X Section XI 4. The percentage of land to be earmarked for commercial use shall not be more than 10 per cent of the allocable area. 5. In case of an Industrial Model Town and Industrial Park, the minimum investment on infrastructure development shall not be less than 50 per cent of the total project cost. In the case of an Industrial Park which provides built up space for industrial use, the minimum expenditure on infrastructure development including cost of construction of industrial space, shall riot be less than 60 per cent of the total cost. 6. Infrastructure development shall include expenditure on common facilities like roads (including approach roads), water supply and sewerage, common effluent treatment facility, generation and distribution of power for use of the units to be located in the Industrial Model Town/Industrial Park, telecom network, etc. and such other facilities as are for common use for industrial activity which are identifiable and are provided on commercial terms. 7. No single unit in any project shall occupy more than 50 per cent of the allocable industrial area of an industrial Model Town/Industrial Park. For this purpose a unit means a separate taxable entity. 8. Necessary approvals including that for Foreign Direct Investment/Non-Resident Indian Investment by the Foreign Investment Promotion Board/Reserve Bank of India, shall be taken separately as per the policy and procedure in force. 9. Wise Park, Pudussery Central Village Development area Kanjikode (P.O.) Palakkad, Kerala shall continue to operate the Industrial Park during the period in which the benefits under section 80-IA of the Income-tax Act are to be availed. 10. The Central Government may withdraw the above approval in case the International Tech Park, Whitefield Road, Bangalore fail to comply with any of the conditions stated above. 11. 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. [F. No. 178/19/2000-ITA-I]