(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 19th March, 2019
S.O. 1396(E).—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 the Act), has framed and notified a scheme for industrial park, by the notification of the Government of India in the Ministry of Finance (Department of Revenue, Central Board of Direct Taxes) vide number S.O. 51(E), dated the 8th January, 2008;
And whereas M/s Intime Properties Limited (the “Company”), having its registered address at plot No C-30, Block-G, Bandra-Kurla Complex, Bandra (East), Mumbai 400051 has developed an Industrial Park at Building No. 5B, 6 and 9 at Survey No. 64(part), Madhapur, Hyderabad, Distt. Rangareddy, Andhra Pradesh;
And whereas the Central Government in exercise of powers conferred by clause (iii) of sub-section (4) of section 80-IA of the said Act, read with rule 18C of the Income-tax Rules, 1962, notified the undertaking vide S.O. 1647(E) dated 11th May, 2012;
Now, therefore, in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the said Act, read with rule 18C of the Income-tax Rules, 1962, the Central Government hereby substitutes clause(s) in item (1) with clauses in item (2) as below:
(1) | (2) |
And whereas M/s. Intime Properties Private Limited., | And whereas M/s. Intime Properties Private Limited., |
Mumbai having its registered address at Plot No. C-30, | Mumbai having its registered address at Plot No. C-30, |
Block-G. Bandra-Kurla Complex, Bandra (East), Mumbai | Block-G. Bandra-Kurla Complex, Bandra (East), Mumbai |
400051 has developed an Industrial Park at Building | 400051 has developed an Industrial Park at Building |
No. 5B, 6 and 9 at Survey No.64(part), Madhapur, | No. 5B and 9 at Survey No.64(part), Madhapur, |
Hyderabad, Distt. Rangareddy, Andhra Pradesh. | Hyderabad, Distt. Rangareddy, Andhra Pradesh. |
3
Now, therefore, in exercise of the powers conferred by | Now, therefore, in exercise of the powers conferred by |
clause (iii) of sub-section (4) of section 80-IA of the said | clause (iii) of sub-section (4) of section 80-IA of the said |
Act read with Rule 18C of the Income Tax Rules, 1962, | Act read with Rule 18C of the Income Tax Rules, 1962, |
the Central Government hereby notifies M/s. Intime | the Central Government hereby notifies M/s. Intime |
Properties Private Limited., Mumbai as an undertaking and | Properties Private Limited., Mumbai as an undertaking and |
the project at Building No. 5B, 6 and 9 at Survey | the project at Building No. 5B and 9 at Survey |
No. 64(part), Madhapur, Hyderabad, Distt. Rangareddy, | No. 64(part), Madhapur, Hyderabad, Distt. Rangareddy, |
Andhra Pradesh being developed and being maintained and | Andhra Pradesh being developed and being maintained and |
operated by the said undertaking, as an industrial park for | operated by the said undertaking, as an industrial park for |
the purposes of the said clause (iii) subject to the following | the purposes of the said clause (iii) subject to the following |
terms and conditions:- | terms and conditions:- |
This substitution shall be deemed to have been applied for the assessment Year 2018-19 and subsequent assessment years.
[Notification No. 23/2019/F. No. 178/30/2017-ITA-I]
RAJARAJESWARI R., Under Secy.
Note : Principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) vide notification number, S.O. 1647(E), dated 11th May, 2012.