M/s. Ascendas IT Park (Chennai) Ltd. Notified as an industrial park for the purposes of Section 80-IA(4)

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... (Department of Industrial Policy and Promotion) 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. Ascendas IT Park (Chennai) Ltd. having its registered office at 1st Floor, Pinnacle Building, International Tech Park, CSIR Road, Taramani., Chennai- 600 113 has developed an industrial park located at Survey No. TS 8/2, Block No.9, Kanagam Village, Mambalam Guindy Taluk, Survey No. TS 1/6, Block NO.7, Thiruvanmiyur Village, Mylapore Triplicane, Chennai, Tamil Nadu-600 113. And whereas the Central Government has approved the said Industrial Park vide Ministry of Commerce and Industry letter No. 15/19/2006-ID-II date....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... (vi) Percentage of allocable area earmarked for commercial use : 6.1%   (vii) Minimum number of industrial units : 12 Units   (viii) Total investments proposed (Amount in Rupees) : Rs.138 crores   (ix) Investment on built up space for Industrial use (Amount in Rupees) : Rs. 105 crores   (x) Investment on Infrastructure Development including investment on built up space for industrial use (Amount in Rupees) : Rs. 118 crores   (xi) Proposed date of commencement of the Industrial Park : 16-08-2005 2. The minimum investment on infrastructure development in an Industrial Park shall not be less than 50% of the total project cost. In t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e 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 Industrial Park did not commence by 31-3-2006, fresh 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. Ascendas IT Park (Chennai) Ltd., 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 info....