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The Central Government amends the notification for M/s. Intime Properties Private Limited to update the industrial park project details. The amendment removes Building No. 6 from the approved industrial park description at Madhapur, Hyderabad. This substitution applies for the assessment year 2018-19 and subsequent assessment years.
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MINISTRY OF FINANCE (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., Mumbai 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 M/s. Intime Properties Private Limited., Mumbai 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 and 9 at Survey No.64(part), Madhapur, Hyderabad, Distt. Rangareddy, Andhra Pradesh. |
| 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 notifies M/s. Intime Properties Private Limited., Mumbai as an undertaking and the project at Building No. 5B, 6 and 9 at Survey No. 64(part), Madhapur, Hyderabad, Distt. Rangareddy, Andhra Pradesh being developed and being maintained and operated by the said undertaking, as an industrial park for the purposes of the said clause (iii) subject to the following terms and conditions:- | 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 notifies M/s. Intime Properties Private Limited., Mumbai as an undertaking and the project at Building No. 5B and 9 at Survey No. 64(part), Madhapur, Hyderabad, Distt. Rangareddy, Andhra Pradesh being developed and being maintained and operated by the said undertaking, as an industrial park for the purposes of the said clause (iii) subject to the following 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.
