Income-tax (14th Amendment) Rules, 2014 - Guidelines for notification of a semiconductor wafer fabrication manufacturing unit as specified business under section 35AD.

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....mely:-     1. (1) These rules may be called the Income-tax (14th Amendment) Rules, 2014.          (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962, (i) after rule 11-OA, the following rule shall be inserted, namely:- "Guidelines for notification of a semiconductor wafer fabrication manufacturing unit as specified business under section 35AD. 11-OB. (1) The notification of a semiconductor wafer fabrication manufacturing unit as a specified business under sub-clause (xiii) of clause (c) of sub-section (8) of section 35AD of the Act shall be in accordance with the following procedure, namely:- (a)....

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....re not genuine or are not being carried out in accordance with all or any of the conditions under section 35AD or under this rule; or (iii) the approval granted by the competent authority on the recommendations of the Appraisal Committee under the Modified Special Incentive Package Scheme of the Department of Electronics and Information Technology has been withdrawn. (h) no order treating the application as invalid or rejecting the application or withdrawing the approval or cancellation of the notification, shall be passed without giving an opportunity of being heard to the assessee; (i) a copy of the order invalidating or rejecting the application or withdrawing the approval shall be communicated to the applicant and the Assessing....

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....hority approving the unit under the Modified Special Incentive Package Scheme notified by the Government of India, Ministry of Communications and Information Technology, Department of Electronics and Information Technology; (b) "date of commencement of operations" means the date on which the commercial production of the unit commences; (c) "semiconductor wafer fabrications" means integrated circuits which are covered in the National Industrial Classification, 2008 under Division 26; Group 261; Class 261; Sub class 26103; (d) "Unit" means manufacturing facility for semiconductor wafer fabrications:" (ii) in Appendix II, after Form No. 3CR, the following Form shall be inserted, namely:- FORM NO. 3CS [See rule 11-OB(1)(a)] ....

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....____________________ (xi) Residential Status (Tick)                                                                           Resident        Non-Resident 2.1 Location of the proposed unit:- (i) Name of the unit (if any)_______________________________ (ii) Complete address of location/locations of the proposed unit:- a) Location 1.____....