For the purpose of Section 80IA(4)(iii) - Industrial Part M/s. Kirloskar Systems Limited, Bangalore notified

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ndustrial Policy and Promotion) vide number S.O. 193(E), dated the 30th March, 1999, for the period beginning on the 1st day of April, 1997 and ending on the 31st day of March, 2002 and vide number S.O. 354(E) dated the 1st day of April, 2002, for the period beginning on the 1st day of April, 1997 and ending on the 31st day of March, 2006; And whereas M/s. Kirloskar Systems Limited, Embassy Star, 8, Palace Road, Vasanthnagar, Bangalore-560 052 is developing an Industrial Park, at Kirloskar Business Park, Survey No. 52, 54,Hebbal Farm Post, Kasaba Hobli, Bangalore; And whereas the Central Government has approved the said Industrial Park vide Ministry of Commerce and Industry letter No. 15/154/2005-IP&ID dated 19-04-2006 subject to the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....age of allocable area earmarked for industrial use : 90.05% (vi) Percentage of allocable area earmarked for commercial use : 9.95% (vii) Minimum number of industrial units : 3 Units (viii) Total investments proposed (Amount in Rupees). : 10279.00 (ix) Investment on built-up space for industrial use (Amount in Rupees). : 4844.00 lakhs (x) Investment on infrastructure Development including investment on built-up space for industrial use (Amount in Rupees) : 8700.00 (xi) Proposed date of commencement of the Industrial Park : 31-03-2006 2. The minimum investment on infrastructure development in an Industrial Park shall not be less than 50% of the total project cost....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e to operate the Industrial Park during the period in which the benefits under clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 are to be availed. 8. In case the commencement of the Industrial Park is delayed by more than one year from the date indicated in Para 1 (xi) of this notification, fresh approval will be required under the Industrial Park Scheme, 2002, for availing benefits under sub-section 4(iii) of Section 80-IA of the Income-tax Act, 1961. 9. The approval will be invalid and M/s. Kirloskar Systems Limited, Bangalore shall be solely responsible for any repercussions of such invalidity, if (i) the application on the basis of which the approval is accorded by the Central Government contains wro....