Approval of Central Government for setting up of an industrial park by the L & T Infocity Ltd, Hyderabad - 049/2004 - Income Tax

Approval of Central Government for setting up of an industrial park by the L T Infocity Ltd, Hyderabad Notification No. 49 of 2004, dt. 13th Feb., 2004 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 by the notification of the Government of India in the Ministry of Commerce and Industry (Department of Industrial Policy and Promotion) number S:0. 1201(E) dated the 1st December. 1999 for the period beginning on the 1st day of April, 1997 and ending on the 31si day of. March. 2002; And whereas M/s L T Infocity Limited, Hyderabad having Its registered office at 1Q4-A1, First Floor, Cyber Towers, HITEC City. Madhapur, Hyderabad - 500 033 has developed, maintains and operates an industrial park; And whereas the Central Government had approved the said Industrial Park subject to terms and conditions specified in the Schedule to the notification dated the 22nd May, 2001 vide number S.O. 447(E); And whereas, in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the said Act, the Central Government had notified the undertaking, developed and being maintained and operated by M/s L T Infocity Limited, Hyderabad as an industrial park for the purposes of the said clause. And, whereas in supersession of earlier notification published in the Gazette of India Part II, section 3(ii) dated the 22nd May. 2001 vide number S.0.447(E), the Central Government has approved the 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 (ill) 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. L T infocity Limited, Hyderabad as an Industrial park for the purposes of the said clause. SCHEDULE The terms and conditions on which the approval of Government of India has been accorded for setting up of an industrial park by the L T Infocity Limited, Hyderabad (i) Name of the Promoter or Industrial Undertaking: L T Info city Limited (ii) Proposed location Address: Madhapur Village, Serilingam Palli, Municipality Ranga Reddy Andhra Pradesh 500 033 (iii) Proposed area of Industrial Park: 14.65 Acres (iv) Proposed activities: Nature of industrial activity with NEC code NIC Code Description S.No. Section Division Group Class A 8 89 892 - Data processing, software development and computer consultancy services. B 8 89 893 - Business management consultancy activities. C 8 89 894 - Architectural Engineering other technical consultancy activities, (v) Percentage of allocable area ear-marked for industrial use: 91% (vi) Percentage of allocable area ear-marked for commercial use.: 09% (vii) Proposed No. of industrial units Total investments proposed: 50 units (viii) Total investments proposed: Rs.281.0 Crore. (ix) Investment on built up space of Industrial use: Rs.220.0 Crore (x) Investment on Infrastructure Development: Rs.258.0 Crore including investment on built up space for industrial use (xi) Actual date of commencement of the Industrial Park: 01.04.1998(Phase I) 31.03.2002(PhaseII) 2. The minimum percentage of the area to be allocated for industrial use shall not be less than 66 percent of the total allocable area. The allocable area will mean the net area, which is available for allocation for industrial, commercial or residential purpose 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 8 excluding Group 892. 893. 894. 895 Section 1 Section 9 Section 5 Sections X Section 7 Sections XI excluding Division 75. 4. The percentage of land to be earmarked for commercial use shall not be more than 10 percent 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 percent 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 percent 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 or 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 percent of the allocable industrial area of an industrial model town or industrial park. For this purpose a unit means a separate taxable entity. 8. Approval for Foreign Direct Investment or Non-Resident Indian Investment by the Foreign Investment Promotion 'Board or Reserve Rank of India shall be taken separately as per the policy and procedure in force. 9. L T Info city Limited, Hyderabad may continue to operate the industrial park during the period in which the benefits under section 80IA of the Income-tax Act are to be availed. 10. The Central Government may withdraw the above approval in case the L T Infocity Limited, Hyderabad fails 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, of failure on the part of the applicant to disclose any material fact. will invalidate this notification. Sd/- (Devi Sharan Singh) Under Secretary to the Govt. of India F.N0.178/96/99-ITA.I (Pt.)