<h1>Denotification of SEZs: approval conditioned on refund of duty benefits where claimed, citing economic and fiscal causes.</h1> Denotification of SEZs has been approved by the Board of Approval with each approval conditioned on the refund of duty benefits availed by the developer where applicable; applicants cited economic downturn, weak market demand, skilled labour shortages, and imposition of Minimum Alternate Tax and Dividend Distribution Tax as reasons for surrendering SEZ status.