TaxTMI 
TaxTMI 
U/s. 80-IA of the IT Act, 1961 - Deductions - Profits and gains from industrial infrastructure undertakings, etc.
X X X X Extracts X X X X
X X X X Extracts X X X X
....12 S.O. 1647(E)- Whereas the Central Government in exercise of the powers conferred by clause (iii) of sub-section(4) of section 80-IA of the Income-tax Act, 1961(43 of 1961) (hereinafter referred to as the said Act), has framed and notified a scheme for industrial park, by the notification of the Government of India in the Ministry of Finance (Department of Revenue, Central Board of Direct Tax....
X X X X Extracts X X X X
X X X X Extracts X X X X
....g developed and being maintained and operated by the said undertaking, as an industrial park for the purposes of the said clause (iii) subject to the following terms and conditions:-] 1. The Industrial Park shall be construed as developed on the date of commencement certificate from the local authority which is 30.03.2009. 2. The industrial park should be owned by onl....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nd operates the notified industrial park, for any reason. 7. The Industrial units shall undertake only those activities as specified in Industrial Park (Amendment) Scheme, 2010. 8. The undertaking must keep separate books of account for the industrial park and must file its income tax returns by the due date to the Income-tax department. 9. The notifica....
X X X X Extracts X X X X
X X X X Extracts X X X X
....which benefits under this scheme are to be availed. The Central Government may withdraw the above approval in case the undertaking, fails to comply with any of the conditions. 12. Any amendment of the project plan without the approval of the Central Government or detection in future, or failure on the part of the applicant to disclose any material fact, will invalidate the approval of the....