Industrial park notification permits the specified undertaking to claim section 80-IA tax deduction subject to scheme compliance. Notification under section 80-IA designates M/s. Ascendas IT Park (Chennai) Ltd.'s 'Crest' and 'Zenith' projects as an industrial park from commencement, subject to Annexure terms: specified minimum floor area, allocable area composition, minimum number of industrial units, single-undertaking ownership, limits on unit occupancy, activity restrictions per the Industrial Park Scheme, 2008, separate accounting and timely tax filing, annual Form IPS-II reporting, and conditions enabling withdrawal of approval for misinformation, plan amendments or non-compliance.
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Provisions expressly mentioned in the judgment/order text.
Industrial park notification permits the specified undertaking to claim section 80-IA tax deduction subject to scheme compliance.
Notification under section 80-IA designates M/s. Ascendas IT Park (Chennai) Ltd.'s "Crest" and "Zenith" projects as an industrial park from commencement, subject to Annexure terms: specified minimum floor area, allocable area composition, minimum number of industrial units, single-undertaking ownership, limits on unit occupancy, activity restrictions per the Industrial Park Scheme, 2008, separate accounting and timely tax filing, annual Form IPS-II reporting, and conditions enabling withdrawal of approval for misinformation, plan amendments or non-compliance.
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