TaxTMI 
TaxTMI 
TaxTMI 
Minutes of the 73rd meeting of the Board of Approval for SEZ held on 09th November 2016 to consider setting up of Special Economic Zones and other miscellaneous proposals
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....liberations, extended the validity of the formal approval up-to 13th November, 2017. Item No. 73.2 : Requests for extension of LoP beyond 3rd Year onwards (i) Request of M/s. Benzo Chem Industries Pvt. Ltd., a unit in M/s. Dahej SEZ Limited, Gujarat for extension of LoP beyond 7th September, 2016 The Board, after deliberations, extended the validity of the LoP up to 7th September, 2017. (ii) Request of M/s. J.S. Designer Ltd., a unit in NSEZ for extension of LoP beyond 21st November 2014, The Board, after deliberations, condoned the delay and extended the validity of the LoP up to 21St November, 2017. (iii) Request of M/s Sterling Biotech Ltd., a unit in Sterling SEZ at Bharuch, Gujarat for extension of validity period of its LoP beyond 30th September, 2016. The Board, after deliberations, extended the validity of the LoP up to 30th September, 2017. (iv) Request of M/s. HAAAS Corporation Pvt. Ltd., a unit in MIHAN SEZ at Nagpur (MIHAN), District Nagpur, Maharashtra for extension of LoP beyond 14.09.2016 The Board, after deliberations, extended the validity of the LoP up to 14th September, 2017. (v) Request.of M/s. Saraf Agencies Pvt. Ltd., a unit in M/s. Saraf Agencie....
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....or construction of IT/ITES building to be undertaken in the notified area of SEZ admeasuring 5,827 Sq.mt. in the Sector Specific SEZ developed by Maharashtra Industrial Development Corporation (MIDC). The activities should be completed by March, 2018 as allowed by the developer Maharashtra Industrial Development Corporation (MIDC) (iv) Request of M/s. Arshiya Rail Siding and Infrastructure Limited for co-developer in the FTWZ at Village SAI, Taluka - Panvel, Maharashtra, being developed by M/s.. Arshiya Limited After deliberations, the Board approved. the proposal of M/s Arshiya Rail Siding and Infrastructure Limited is a. wholly owned subsidiary of Arshiya Ltd. which is focusing on infrastructure based logistic which includes development operation and maintenance of FTWZ.. Further, the company requested for the grant of co-developer status for operation and maintenance of six warehouses at Arshiya, Ltd. in accordance with the co-developer agreement entered into with the developer, subject to standard terms and conditions as per SEZ Act and Rules. (v) Request of M/s. Brigade (Gujarat) Projects Pvt. Ltd. for co-developer in the sector specific SEZ for multi services at Ratanpur....
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....etting up of a sector specific SEZ for IT/ITES at Sy. No. 89 (P), Kokapet Village, Serilingampally Mandal, Telangana, over an area of 1.66 hectares. The Board, after deliberations, approved the proposal for setting. up of a sector specific Special Economic Zone for IT/ITES at Sy. No. 89 (P), t(okapet Village, Serilingampally Mandal, Telangana,. over an area of 1.66 hectares. (vi) Request of M/s. GAR Corporation Private Limited for setting up of a sector specific SEZ for IT/ITES at Sy. No. 21 (P), 22 (P), 23 and 24, Kokapet Village, Serilingampally Mandal, Telangana, over an area of 2.56 hectares. The Board, after deliberations, approved the proposal for setting up of a sector specific Special Economic Zone for IT/ITES at Sy. No. 21. (P), 22 (P), 23 and 24, Kokapet Village, Serilingampally Mandal, Telangana, over an area of 2.56 hectares. (vii) Request of M/s. KRC Infrastructure and Projects Private Limited and M/s. Gera Developments Pvt. Ltd. for jointly setting up of sector specific SEZ for IT/ITES at Kharadi District Pune, Maharashtra, over an area of 4.03 hectares. The Board, after deliberations approved the proposal with observation the DC, SEEP SEZ may take an undertaki....
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....nal 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 unit to CBDT. (v) Request of M/s. Chordia Brothers, a unit at Plot No. F-20, SEZ-II, Sitapura, Jaipur for change of name of partners and shareholding of the firm. The Board, after deliberations, approved the proposal for change of partners and shareholding of the firm subject to following conditions:- (i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered unit entity; (ii) Fulfillment of all eligibility criteria applicable to unit, including security clearances etc., by the altered unit entity and its constituents; (iii) Applicability, of and compliance with all Revenue / Company Affairs /SEBI etc....
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....quest of M/s. DLF Utilities Ltd., a co-developer in the sector specific SEZ for IT/ITES at New Town, Rajarhat, Kolkata being developed by M/s. DLF Limited for transfer of Codeveloper LoA including all authorized operations, assets & liabilities to M/s. DLF Power & Services Ltd. The Board, after deliberations, approved the request for transfer of Co-developer LoA including all authorized operations, assets & liabilities to M/s. DLF Power & Services Ltd., subject to standard terms and conditions as per SEZ Act and Rules. (viii) Request of M/s. DLF Utilities Ltd., a co-developer in the sector specific SEZ for IT/ITES at Gachibowli village, Serilingampally Mandal, Ranga Reddy District, Telangana being developed by M/s. DLF Commercial Developers Limited for transfer of Co-developer LoA including all authorized operations, assets & liabilities to fellow subsidiary. The Board, after deliberations, approved the request for transfer of Co-developer LoA including all authorized operations, assets & liabilities to fellow subsidiary, subject to standard terms and conditions as per SEZ Act and Rules. (ix) Request of M/s. DLF Utilities Ltd., a co-developer in the sector specific ,SEZ for I....
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....n of the company, subject to following conditions:- (i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity; (ii) Fulfillment of all eligibility criteria applicable to developers, including security clearances etc., by the altered developer, entity and its constituents; (iii) Applicability of and compliance with all Revenue / Company Affairs /SEBI etc. rules which regulate issues 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 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, 1.961. (vi) The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. (vii) The develo....
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....10 years of SEZ notification has already been completed on 28.08.2016 and approx. 15000 sqm (1,65,000 sqft.) of built up area have been constructed in the processing area of SEZ. However, the Developer has not completed 50% of construction work even after lapse of 10 years. The, Board authorized DC, NSEZ to issue notice to the developer as to why the letter of approval should not be cancelled and the SEZ denotified. Thereafter, DC, NSEZ will bring a fresh proposal for consideration of the BOA. (xvii) Proposal of M/s. MMG Impex, a unit in MEPZ to reconsider the proposal for manufacture of additional items of sandal woods. The Board, after deliberations, deferred the proposal with the observation that clarification/comments may be obtained from DGFT regarding the policy on export & import of sandal wood within three weeks. (xviii) Proposal of M/s. Global Export House for addition of Sandal Wood Oil and Chips. The Board, after deliberations, deferred the proposal with the observation that clarification/comments may be obtained from DGFT regarding the policy on export & import of sandal wood within three weeks. Item No. 73.6: Cancellation of Formal Approvals M/s. Balaji Infra ....
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....d that Department circular dated 06.04.2015. clearly stipulates that those power plants which are presently situated in the processing area of SEZ shall be demarcated as non-processing area and no O&M benefits will now be available for such power plants. The unit will now be eligible for O&M benefits under Para (iii) of 16.02.2016 power guidelines, subject to the condition that no duty free benefits for transfer of power to EOU shall be allowed as O&M benefits are available to the unit. In view of the above BoA, after detailed consideration, rejected the appeal. (ii) Appeal of M/s. Vikas Telecom Private Limited (VTPL), developer Vikas Telecom SEZ at Embassy Tech Village, Bangalore against order dated 30.05.2016 passed by UAC, CSEZ. The representative of Appellant was not present. VTPL had, on 8.3.2016, applied to DC CSEZ for approval to run. the DG set, ie, the back-up power facility as SEZ unit, within the processing area of VTPL Special Economic Zone, w.e.f April 1, 2015. However, UAC granted the SEZ Unit approval under 2016 Power guidelines w.e.f. 09.05.2016. Aggrieved by the decision of UAC, M/s. Vikas Telecom Private Limited (VTPL) has preferred the appeal on the grounds ....
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....e statement/inputs in connection with physical export/DTA Sale/NFE. for the consideration of Department which was forwarded to DC, NSEZ for verification. DC NSEZ vide his letter dated 2.6.2016 informed that the M/s MTL has not furnished the details of import, export and DTA sale by them in the prescribed format. M/s MTL has informed that their records had been seized by the DRI, Delhi and they will submit the details whenever they will get back the records. DC, NSEZ further stated that since the unit has failed to provide the said documents i.e. details of EEFC Account of DTA Buyer or Free Foreign Exchange received from overseas, NFE position cannot be determined. Further, details of payment received from EFFC Account or from overseas buyer should be through normal banking channel and that can be provided by the unit. Thus the contention of the unit that it is unable to provide the details of EFFC account etc. as the same has been seized by DRI, is untenable. Further, the following observation of the UAC were noted:- (i) The unit has. been persistently violating the provisions of SEZ Act/SEZ Rules and terms & conditions of LoA/Bond-cum-LUT (ii) The unit has admitted the mis-d....
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.... paid dual usages in the non-processing area (A) Request of M/s. Persipina Developers Pvt. Ltd. a sector specific SEZ for Services at District Raigad, Maharashtra for dual usage in the non-processing, area The BOA did not approve the proposal for grant of permission for dual use.of infrastructure and directed the Developer to de-notify the total area of 1077419 sq.ft. (100094 sqm.) in the Non-processing area where 1012 residential units have been built from the said SEZ, subject to payment of duty benefits availed after obtaining NOC from the State Government as per the decision of 65th BoA held on 19.05.2015. (B) Request of M/s.. Persipina Developers Pvt. Ltd. for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for Services sector at Village Talegaon, and Panshil, Taluka Khalapur, and village Bhokarapada, Taluka Panvel, Dist. Raigad Maharashtra, beyond 14th October, 2016 The Board, after deliberations, extended the validity of the formal approval up to 14th October, 2017. (ii) Request of M/s. TRIL Infopark Ltd. a sector specific SEZ for IT/ITES at Ramanujan IT City, Rajiv Gandhi Salai (OMR), Taramani, Chennai, Tami....
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.... (Quality Control) Second Order dated 12.3.2012 of Ministry of Steel should be complied with 'in respect of such goods cleared to DTA. Accordingly; BoA remanded the appeal to DC NSEZ for further action. (iii) Appeal of M/s. Kamal Deep Jewellers a unit in NSEZ against order dated 05.09.2016 passed by UAC/NSEZ. After deliberation, the BoA rejected the appeal with observation that the unit has not renewed the LOA within the time limit as per SEZ Act, 2005 and SEZ Rules, 2006. However, DC, NSEZ should ensure that all duties and interest etc have been recovered before de-bonding. (iv) Appeal of M/s. Dr. Reddy's Laboratories Ltd. CTO SEZ Process Unit-1 a unit in Dr. Reddy's Laboratories Ltd. at Sy. N. 53-80, Devunipalavalasa village, Ranasthalam Mandal, Srikakualm District against order dated 11.05.2016 passed by UAC/VSEZ. M/s. Dr. Reddy's Laboratories Ltd. CTO SEZ has preferred an appeal against the UAC decision dated 11.05.2016 wherein their request for inclusion of service activity of QA/QC services for the existing CTO SEZ process unit-1 with the intention to extend QA/QC. related services like analytical method validation for other SEZ units and other units in D....