TMI BlogMinutes of the 86th meeting of the. Board of Approval for SEZ held on 22 November 2018 to consider setting up of Special Economic Zones and other miscellaneous proposalsX X X X Extracts X X X X X X X X Extracts X X X X ..... eeting of the 84th BoA held on 05.10.2018 and 85th meeting of the BoA held on 02.11.2018. The BoA ratified the minutes of the follow up meeting of the 84th BOA held on 05.10.2018 and 85th meeting of the BoA held on 02.11.2018. Item No. 86.2 Requests for extension of LoP beyond 3rd Year onward (two proposals) Item No. 86.2(i) Request of M/s. Xenosoft Technologies (India) Pvt. Ltd. a unit in M/s APIIC Ltd. IT/ITES SEZ at Rushikonda, Madhurawada, Visakhapatnam for extension of Letter of Approval beyond 3rd year for a period of 6 months upto 19th July, 2019. The Board, after deliberations, approved extension of the validity of the LoP for a period of six months up to 19th July, 2019. Item No. 86.2(ii) Request of M/s. Lupi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .00 acres in accordance with the co-developer agreement entered into with the developer subject to standard terms and conditions as per SEZ Act and Rules provided that the lease period does not exceed 30 years (Renewable). 86.3(iii) Request of M/s. Arshiya Northern Projects Private Limited for Co-developer status in the Free Trade and Warehousing Zone of M/s. Arshiya Northern FTWZ Ltd. at Village Ibrahimpur, Junaidpur urf Maujpur, Tehsil Khurja, Distt. Bulandshahr (U.P.) for Operation, Maintenance and leasing of three nos. existing warehouses (Warehouse No. 52, 53 54 constructed on land admeasuring 3.42 Hectare). The Board, after deliberations, approved the proposal of M/s. Arshiya Northern Projects Private Limited for operation, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ltered co-developer entity and its constituents; iii) Applicability of and compliance with all Revenue / Company Affairs /SEBI etc. rules which regulate issues like capital gains, equity change, transfer, taxability etc. iv) Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority. v) The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 196 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vant sections of the Income Tax Act, 1961. vi) The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. vii)The co-developer shall furnish details of PAN and jurisdictional assessing officer of the co-developer to CBDT. Item no. 86.6: Proposals for renewal of LoP for plastic recycling units (28 proposals). Item no. 86.7: Proposals for renewal of LoP for worn and used clothing units (15 proposals). The Board, after deliberations, observed that the matter required broader discussion and further deliberations and in view of the fact that LoPs of most of the units were lapsing on 30.11.2018 decided to grant an extension of LoP to the 28 plastic recycling units a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cation for setting up a unit for service activity of segregation/sorting/operation of imported used clothing on behalf of foreign clients. The appellant did not appear before the Board despite being given two opportunities for hearing. The Board, after deliberations, rejected the appeal as the same was not permitted under Rule 18 (4) of the SEZ Rules, 2006. Annexure - I List of Participants for the Meeting of the Board of Approval for Special Economic Zones held on 22nd November, 2018 under the Chairmanship of Commerce Secretary, Department of Commerce. 1. Shri Anup Wadhawan, Chairman, BoA Commerce Secretary, Department of Commerce 2. Shri Alok Vardhan Chaturvedi, DG, DGFT 3. Shri Bidyut Behari Swain, Additional ..... X X X X Extracts X X X X X X X X Extracts X X X X
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