Industrial park recognition places tax benefits on compliance with investment, unit, operational and approval conditions under income tax law. The Central Government notifies M/s. Rajasthan State Industrial Development & Investment Corporation Limited, Jaipur, as an industrial park under the Income-tax provision, subject to conditions including specified location, area allocation favoring industrial use, minimum number of industrial units, defined infrastructure investment thresholds and commencement date; tax benefits depend on compliance, continued operation by the grantee, timely commencement or fresh approval if delayed, mandatory approvals for foreign investment, limitations on single-unit area occupation, transfer notification requirements, and invalidation for misinformation or unauthorized amendments.