TaxTMI 
TaxTMI 
Section 80-IA, Sub-clause (iii) of sub-section (4) of the Income-tax Act, 1961 - Deductions - In respect of profits and gains from Industrial Undertakings, or Enterprises Engaged in Infrastructure Development, etc.
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....ferred to as the said Act), has framed and notified a scheme for industrial park, by the notifications of the Government of India in the Ministry of Commerce and Industry (Department of Industrial 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.0.354(E), dated the 31st day of March, 2006; And whereas M/s. Ganesh Housing Corporation Ltd. having its registered office at 1st Floor, "Samudra", Near Klassic Gold Hotel, C.G. Road, Ellisbridge, Ahmedabad-380006, is developing an Industrial Park at International Pharma and Biotech Park, Matoda-Sari, Ahmedabad, Gujarat. And whereas the Central Government has ....
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....ss A 3 30 304 - Manufacture of drugs, medicines and allied products (v) Percentage of allocable area earmarked for Industrial use : 82% (vi) Percentage of allocable area earmarked for commercial use : 2% (vii) Minimum number of industrial units : 30 Units (viii) Total investments proposed : Rs. 13,71,63,834/- (ix) Investment on built up space for Industrial use (Amount in Rupees) : Nil (x) Investment on Infrastructure Development including investment on built up space for industrial use : Rs. 8,99,02,448/- (xi) Expected date of commencement of the Industrial Park : January 15, 2006 2. The minimum investment on infrastructure development in an Industrial Park shall not be less than 50% of the total project cost. In the c....
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.... approval will be required under the Industrial Park Scheme, 2008 subject to the applicability under that Scheme 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. Ganesh Housing Corporation Ltd., Ahmedabad 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 wrong information/misinformation or some material information has not been provided in it. (ii) it is for the location of the industrial park for which approval has already been accorded in the name of another undertaking. 10. In case M/s. Ganesh Housing Corporation Ltd., Ahmedaba....