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of <h1>Government Revokes Industrial Park Status for Hyderabad Company Under Section 80-IA Due to Non-Compliance with 2006 Conditions.</h1> The Central Government has rescinded the notification granting industrial park status to an undertaking operated by a private company in Hyderabad under Section 80-IA of the Income Tax Act, 1961. Initially approved in 2005 and notified in 2006, the undertaking sought to transfer operations to another company. However, the government rejected further amendments to the approval terms in 2014 due to non-compliance with the Industrial Park Scheme and conditions set by the Ministry of Finance and Commerce. Consequently, the notification issued in 2006 is rescinded, effective retroactively from August 21, 2006.
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