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Deductions - In Respect Of Profits And Gains From Industrial Undertakings, Or Enterprises Engaged In Infrastructure Development - 55/2012 - Income Tax

Extract

..... tre, Building No. 3, Plot No. 18, Software Units Layout, Madhapur, Hyderabad-500 081, is developing an Industrial Park at Plot No. 18, Software Units Layout Town/Tehsil-Madhapur, District-Hyderabad, AP-500 081; And whereas the Central Government has approved the said Industrial Park vide Ministry of Commerce and Industry letter No. 15/37/2006-ID-II dated 03-03-2009 subject to the terms and conditions mentioned therein as subsequently amended vide Ministry of Commerce and Industry letter No. 15/37/2006-ID-II dated 10.4.2012; 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 the undertaking, being developed and being maintained and op .....

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Deductions - In Respect Of Profits And Gains From Industrial Undertakings, Or Enterprises Engaged In Infrastructure Development - 55/2012 - Income Tax

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..... rastructure Development including investment on built up space for industrial use (Amount in Rupees) : Rs. 10,000 Lakhs (xi) Proposed date of commencement of the Industrial Park : March 2006 2. The minimum investment on infrastructure development in an Industrial Park shall not be less than 50% 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 not be less than 60% of the total project cost. 3. Infrastructure development shall include, roads (including approach roads), water supply and sewerage, common effluent treatment facility, telecom network, generation and distribut .....

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Deductions - In Respect Of Profits And Gains From Industrial Undertakings, Or Enterprises Engaged In Infrastructure Development - 55/2012 - Income Tax

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..... Income Tax Act, 1961. 9. The approval will be invalid and M/s iLABS Hyderabad Technology Centre Pvt. Ltd., Hyderabad, shall be solely responsible for any repercussions of such invalidity, if (i) the application on the basis of which the approval is accorded 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 approval has already been accorded in the name of another undertaking. 10. In case M/s iLABS Hyderabad Technology Centre Pvt. Ltd., Hyderabad, transfers the operation and maintenance of the industrial park (i.e., transferor undertaking) to another undertaking (i.e., the transferee undertaking), the trans .....

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Deductions - In Respect Of Profits And Gains From Industrial Undertakings, Or Enterprises Engaged In Infrastructure Development - 55/2012 - Income Tax

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