TaxTMI 
TaxTMI 
Minutes of the 70th meeting of the Board of Approval for SEZs held on 28th April 2016 to consider proposals for setting up Special Economic Zones and other miscellaneous proposals
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....ii) Request for further extension of LoA from M/s. Mayar Infrastructure Development Pvt. Ltd. for setting up of Biotechnology SEZ at village Rahaka & Nimoth District Gurgaon, Haryana beyond 13th July, 2016 The Board, after deliberations, extended the validity of the formal approval up to 13th July, 2017. (iii) Request for further extension of LoA from M/s. Wipro Limited for setting up of IT/ITESBPO SEZ at Kodathi village, Varthur hobli, Sarjapur Road, Bangalore, Karnataka beyond 26th May 2016 The Board, after deliberations, extended the validity of the formal approval up to 26th May, 2017. (iv) Request of M/s. Brookefields Real Estates and Projects Private Limited for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES/BPO/Electronic Hardware at "Brooke fields", Village Kundalahalli, Hobli Krishnarajapuram, Taluk Bangalore South, Karnataka, beyond 31st March 2016. The Board, after deliberations, directed DC, CSEZ to obtain and furnish a report indicating financial closure. Thereafter, the proposal will be considered on file with the approval of Commerce Secret....
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....l Sanganer, District Jaipur, Rajasthan for extension of LoP beyond 1st February 2016. The Board, after deliberations, extended the validity of the LoP up to 1St February, 2017 and also directed DC, NSEZ to keep the developments of the Unit under watch. (iv) Request of M/s. Indofil Industries Limited, a unit in the multi product SEZ being developed by M/s. Dahej SEZ at Bharuch, Gujarat for extension of LoP beyond 13th March 2016 The Board, after deliberations, extended the validity of the LoP up to 13^th March, 2017. (v) Request of M/s. Ajanta Pharma Limited, a unit in the multi product SEZ being developed by M/s. Dahej SEZ at Bharuch, Gujarat for extension of LoP beyond 1St April 2016 The Board, after deliberations, extended the validity of the LoP up to 1st April, 2017. (vi) Request of M/s. Lupin Ltd., a unit in MIHAN SEZ, for extension of Letter of Permission (LoP) beyond 22^nd April 2016 The Board, after deliberations, extended the validity of the LoP up to 22^nd April, 2017. (vii) Request of M/s. Godrej & Boyce Manufacturing Company Limited, a unit in the multi product SEZ being developed by M/s. Dahej SEZ at Bharuch, Gujarat for extens....
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.... as per the lease agreement signed between the Developer and Co-developer and in all other cases the lease period will continue to be a period not exceeding 30 years (Renewable). Approval of proposals for Co-developer All approvals for co-developers are subject to the condition that particular terms and conditions of lease agreement/co-developer agreement will not have any bearing on the treatment of the income by way of lease rentals/down payment/premium etc., for the purposes of assessment under the Income Tax Act and Rules. The Assessing Officer, will have the right to examine the taxability of these amounts under the SEZ Act and Income Tax Act and Rules. This is applicable to all cases of co-developers approved by the BoA in this meeting. The decisions of the BoA on the proposals listed in the agenda are as under:- (i) Request of M/s. Brigade (Gujarat) Projects Pvt. Ltd. for co-developer in the sector specific SEZ for multi services at Ratanpur, District Gandhinagar, Gujarat, being developed by M/s. GIFT SEZ Ltd. After deliberations, the Board approved the proposal of M/s. Brigade (Gujarat) Projects Pvt. Ltd. for becoming a co-developer to develop, maint....
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....NSEZ, of data furnished in the proposal. (iv) Request of M/s. MPSEZ Utilities Private Limited for co-developer in the multi product SEZ at Mundra, Kutch, Gujarat, being developed by M/s. Adani Ports and Special Economic Zone Ltd. (APSEZL) The Board was informed that the proposal was withdrawn by M/s. MPSEZ Utilities Private Limited. (v) Request of M/s. Volupia Developers Pvt. Ltd. for co-developer in Multi Services SEZ at Ratanpur, District Gandhinagar, Gujarat, being developed by M/s. GIFT SEZ Ltd. for additional built up area of 50,237 sq.ft. After deliberations, the Board approved the proposal of M/s. Volupia Developers Pvt. Ltd. for additional built up area of 50,237 sq. ft., in accordance with the supplemental agreement to co-developer agreement entered into with the developer subject to standard terms and conditions as per SEZ Act and Rules. (vi) Request of M/s. UST Global Technology Services (India) Private Limited for co-developer in the sector specific SEZ for IT/ITES at Puthencruz and Kunnathunade village, Taluk Kunnathaunadu, Ernakulam District, Kerala, being developed by M/s. Infopark After deliberations, the Board approved the proposal of ....
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.... in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority. (v) The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961. (vi) The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. (vii) The developer shall furnish details of PAN and jurisdictional assessing officer of the developer to CBDT. (ii) Request of M/s Unitech Realty Project Ltd., developer of sector specific SEZ for IT/ITES at Tikri, Sector, 48, Gurgaon, Haryana for change of name/constitution & shareholding pattern of the company After deliberations, the Board approved the request for change of name of the developer from M/s Unitech Realty Project Ltd. to M/s. Candor Gurgaon One Developers and Projects Pvt. Ltd. and change of the shareholding....
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....sues like capital gains, equity change, transfer, taxability etc. (iv) Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority. (v) The Assessing Officer shall have the right to examine and assess the taxability and eligibility for deduction under relevant sections of the Income Tax Act, 1961. (vi) The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. (vii) The co-developer shall furnish details of PAN and jurisdictional assessing officer of the co-developer to CBDT. (iv) Request of M/s GMR Hyderabad Aviation SEZ Ltd. for inclusion of pharma sector in SEZ After deliberations, the Board approved the request of M/s GMR Hyderabad Aviation SEZ Ltd. for inclusion of pharma as additional sector in the said SEZ. Item No. 70.8: Cancellation of Formal Approvals The Board examined the following 5 cases of cancellation of formal approval /notification and approved cancellation of thei....
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.... The Board, after deliberations, condoned the delay and extended the validity of the formal approval up to 11^th October, 2016. (iii) Request of M/s. Mikado Realtors Pvt. Ltd. for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for Electronic Hardware, IT/ITES at Village Behrampur, Distt Gurgaon, Haryana, beyond 29th October, 2011. The Board, after deliberations, condoned the delay and extended the validity of the formal approval up to 29^th October, 2017. Item No. 70.11 : Requests for extension of LoP beyond 3rd Year onwards (i) Request of M/s. Tatva Chintan Pharma Chem Pvt. Ltd., a unit in the multi product SEZ being developed by M/s. Dahej SEZ at Bharuch, Gujarat for extension of LoP beyond 22^nd May 2016. The Board, after deliberations, extended the validity of the LoP up to 22nd May, 2017. Item No. 70.12: Miscellaneous Cases (i) Request of M/s. Unitech Hi-tech Structures Developers Ltd., a developer in sector specific SEZ for IT/ITES at Rajarhat Dist. North 24 Parganas, Kolkata, West Bengal for change of name from M/s. Unitech Hi-Tech Structures Pvt. Ltd....
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..../merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority. (v) The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961. (vi) The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. (vii) The unit shall furnish details of PAN and jurisdictional assessing officer of the developer to CBDT. (iii) Request of M/s. Ford Motor Private Limited (FMPL) for co-developer in the sector specific SEZ for IT/ITES at Sholinganallur village, Tambaram Taluk, Kancheepuram District, Tamil Nadu, being developed by M/s. Electronics Corporation of Tamil Nadu Limited (ELCOT). The Board, after deliberations, took note of the recommendation of the Government of Tamil Nadu contained in its letter dated 16.03.2016 for allowing co-develo....
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..... would approach the Development Commissioner concerned for obtaining for all other approvals as per prescribed legal procedures. S. No. Name of Company Ebiz Appln. No. Location Items of manufacture Proposed Annual M/s Reliance Land Systems Ltd. GV 2375 Pithampur (SEZ), Akolia, Dhar, M.P. Manufacture of : • Ground Vehicles including Tanks, Armoured Vehicles, Infantry Combat Vehicles, Armoured Personnel Carrier 100 • All wheeled drive vehicles fitte with components to provide ballstic protection level III and above 150 • Amphibious vehicles for military use. 50 2. M/s Reliance Land Systems Ltd. ZG 8110 Pithampur (SEZ), Akolia, Dha, M.P Manufacture of all types of ammunition and fuses. 500 3. M/s Reliance Land Systems Ltd. GL 8981 Pithampur (SEZ), Akolia, Dhar, M.P. Manufacture of small arma including revolvers, shot gun, light machine gun, pistols 500 4. M/s Reliance SED Ltd. RP 4362 Pithampur (SEZ), Akolia, Dhar, M.P Manufacture of D....
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.... 15. M/s Reliance SED Ltd. RS 1900 Mihan (SEZ), Nagpur Design, Development and Manufacture of C41 Systems for Aviation, Naval and Land Systems 4 16. M/s Reliance Defence Technologies Pvt. Ltd. XU 5697 Mihan (SEZ), Nagpur Manufacture/Assembly/Integration of Electronic fuses and associated sub-systems. 100000 Item No. 70.13: Cancellation of Formal Approvals The Board, examined the case for cancellation of formal approval /notification. The Board noted that the progress made by the developer M/s. Lanco Solar Pvt. Ltd. (Vill. Ramdaspur, Cuttack, Odisha) was not satisfactory. The Board, after deliberations, decided to cancel the formal approval/notification. The cancellation was subject to the DC furnishing a certificate in the prescribed format certifying that the developer has not availed any tax/duty benefits including Service Tax Exemptions, if any, under SEZ Act /Rules, or has refunded any such benefits availed by it. Item No. 70.14: Cancellation of In-principle approval The Board, examined the case for cancellation of formal approval /notification. The Board noted that the progress made by the developer M/s. Posco India Pvt.....