ESOP expenditure allowed as FMV difference; long-term capital gain issue sent back for collector rate determination; deferred income additions disallo...
Appeal allowed; impugned order quashed as regulator failed to prove nexus or manipulative scheme; sale genuine - s.12A(a)-(c), Regs 3(a)-(d),4(1),4(2)...
The ministry directs that developers in IT/ITES SEZs seeking reverse demarcation of previously designated Non-Processing Built-Up Area (NPA) to Processing Built-Up Area (PA) should apply to the Development Commissioner; demarcation from NPA to PA is governed by Rule 11 (sub-rules 1-2) under Section 6 of the SEZ Act, granting the Development Commissioner authority to issue demarcation orders and manage access to demarcated areas. Such conversions may be approved by the competent authority only where the applicant developer has no claim for duty refund.
The ministry directs that developers in IT/ITES SEZs seeking reverse demarcation of previously designated Non-Processing Built-Up Area (NPA) to Processing Built-Up Area (PA) should apply to the Development Commissioner; demarcation from NPA to PA is governed by Rule 11 (sub-rules 1-2) under Section 6 of the SEZ Act, granting the Development Commissioner authority to issue demarcation orders and manage access to demarcated areas. Such conversions may be approved by the competent authority only where the applicant developer has no claim for duty refund.
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