TMI BlogGuidelines for notification of a semiconductor wafer fabrication manufacturing unit as specified business under section 35AD.X X X X Extracts X X X X X X X X Extracts X X X X ..... . (1) The notification of a semiconductor wafer fabrication manufacturing unit as a specified business under sub-clause (xiii) of clause (c) of sub-section (8) of section 35AD of the Act shall be in accordance with the following procedure, namely:- (a) the applicant shall apply for notification of the unit in Form No. 3CS to Member (Income-tax), Central Board of Direct Taxes, Department of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... well as from the income-tax authorities and other Departments or agencies, as it may deem fit; (f) the Board may, after considering the application and the documents or the information referred to in clause (e), either issue the notification to be published in the Official Gazette granting approval to the unit or for reasons to be recorded in writing reject the application. (g) The Board may ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r rejecting the application or withdrawing the approval shall be communicated to the applicant and the Assessing Officer and the Commissioner having jurisdiction over the assessee. (2) A unit shall be considered for notification if it fulfils all of the following conditions, namely:- (a) the unit shall be exclusively for the manufacture of semiconductor wafer fabrications; (b) the unit sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te to the Income-tax Department to avail the tax benefit under section 35AD. (4) A unit notified under sub-clause (xiii) of clause (c) of sub-section (8) of section 35AD shall continue to be governed by the provisions of this rule to the extent it is not in contravention with the provisions of the Act, as amended from time to time. (5) In this rule and the Form,- (a) competent author ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
