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of <h1>Government Rescinds Tax Benefits for Creative Infocity Ltd. Industrial Park, Effective Retroactively from March 2012, Per Section 80-IA.</h1> The Central Government initially approved M/s Creative Infocity Ltd. in Gandhinagar, Gujarat, as an Industrial Park under the Industrial Park Scheme, 2002. Following a Gujarat High Court directive, the Central Board of Direct Taxes notified the park for benefits under section 80-IA of the Income-tax Act, 1961. However, the Ministry of Commerce and Industry later withdrew this approval in March 2014. Consequently, the government rescinded the notification granting tax benefits to the park, effective retroactively from March 22, 2012.
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