TMI BlogSection 80-IA, Sub-clause (iii) of sub-section (4) of the Income-tax Act, 1961 - Deductions - In respect of profits and gains from Industrial Undertakings, or Enterprises Engaged in Infrastructure Development, etc.X X X X Extracts X X X X X X X X Extracts X X X X ..... 3 of 1961) [hereinafter referred to as the said Act), has framed and notified a scheme for industrial park, by the notifications of the Government of India in the Ministry of Commerce and Industry (Department of Industrial Policy and Promotion) vide number S.O. 193(E), dated the 30th March, 1999 for the period beginning on the 1st day of April, 1997 and ending on the 31st day of March, 2002 and vide number S.0.354(E), dated the 31st day of March, 2006; And whereas M/s. Ganesh Housing Corporation Ltd. having its registered office at 1st Floor, "Samudra", Near Klassic Gold Hotel, C.G. Road, Ellisbridge, Ahmedabad-380006, is developing an Industrial Park at International Pharma and Biotech Park, Matoda-Sari, Ahmedabad, Gujarat. And whereas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ( iv ) Proposed activities Nature of Industrial activity with NIC code NIC Code Description S. No. Section Division Group Class A 3 30 304 - Manufacture of drugs, medicines and allied products ( v ) Percentage of allocable area earmarked for Industrial use : 82% ( vi ) Percentage of allocable area earmarked for commercial use : 2% ( vii ) Minimum number of industrial units : 30 Units ( viii ) Total investments proposed : Rs. 13,71,63,834/- ( ix ) Investment on built up space f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... investment or non-resident Indian investment by the Foreign Investment Promotion Board or Reserve Bank of India or any authority specified under any law for the time being in force, shall be taken separately as per the policy and procedures in force. 6. The tax benefits under the Act can be availed of only after the number of units indicated in Para 1(vii) of this Notification, are located in the Industrial Park. 7. 2 [***] 8. In case the Industrial Park did not commence by 31.3.2006, fresh approval will be required under the Industrial Park Scheme, 2008 subject to the applicability under that Scheme for availing benefits under sub-section 4(iii) of section 80-IA of the Income-tax Act, 1961. 9. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he 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. 178/02/2008-ITA-I] ------------------------- Notes:- 1. Substituted vide NOTIFICATION NO. 31/2013 dated: 18/04/2013 , before it was read as, being developed and being maintained and operated . 2. Omitted vide NOTIFICATION NO. 31/2013 dated: 18/04/2013 , before it was read as, "M/s. Ganesh Housing Corporation Ltd., Ahmedabad shall continue to operate the Industrial Park during the period in which the benefits under clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 are to be availed." - Notification ..... X X X X Extracts X X X X X X X X Extracts X X X X
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