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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...., Haryana for acquired of two years, beyond 13th November, 2016 The Board, after deliberations, 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 30^th 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 T....
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....o-Developer in the sector Specific SEZ, Rajiv Gandhi Infoteck Park, Phase-II, Hinjewadi, Pune being developed by Maharashtra Industrial Development Corporation. After deliberations, the Board approved the proposal of M/s. C.B. Global IT Park & Infra Pvt. Ltd. as a Co Developer for 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 ware....
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....nbsp; Request of M/s. EON Kharadi Infrastructure Private Limited for setting up of a sector specific SEZ for IT/ITES at Sy. No. 72, Village Khardi, Pune, over an area of 4.86 hectares. The Board, after deliberations, approved the proposal for setting up of a sector specific Special Economic Zone for IT/ITES at Sy. No. 72, Village Khardi, Pune; over an area of 4.86 hectares with direction to DC SEEPZ SEZ to review the case (v) Request of M/s. GAR Corporation Private Limited for setting 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....
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.... (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, 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, 1961. (vi) The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. ....
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....e with all Revenue / Company Affairs /SEBI etc, rules which regulate issues like capital gains, equity change, transfer, taxabilityetc. (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, 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. (vii) Request 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 ope....
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.... M/s. DLF Power & Services Ltd. (DPSL) The Board, after deliberations, approved the request for transfer of Co-developer LoA to M/s. DLF Power & Services Ltd. (DPSL), subject to standard terms and conditions as per SEZ Act and Rules. (xii) Request of M/s. Embassy Services Pvt. Ltd., a co-developer in the sector specific SEZ for Electronic Hardware and Software including IT/ITES at Rachenhalli and Nagavara Villages, Hobli, Outer Ring Road, Bangalore District, Karnataka, being developed by Manyata Promoters Pvt. Ltd. for additional authorized operations. The Board after deliberations, approved the proposed additional authorized operations of the co-developer in the processing area with the condition that no 0 & M benefits will be available for security services: (xiii) Request of M/s. Shriram Properties and Infrastructure Private Limited developer for sector specific SEZ for IT/ITES at Perungulathur, Chennai, for transfer of shareholding pattern of the company The Board, after deliberations, approved the request for transfer of shareholding pattern of the company, subject to following conditions:- (i) Seamless continui....
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.... 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. (xv) Request of M/s. Symphony Jewels Pvt. Ltd., a unit in Plot No. H-119, SEZ-II, Sitapura, Jaipur for change of Directors and shareholding of the company. DC, NSEZ informed that the proposal was withdrawn. (xvi) Request of M/s. Ansal IT City & Parks Ltd. to grant extension in timeline for construction of minimum built area in the IT/ITES at Plot No. TZ-06, Sector Tech Zone, Gr. Noida, Uttar Pradesh. The Board, after deliberations, observed that as per Rule 5(7) of SEZ Rules, 2006, the developer or co-developer shall have to construct the minimum built up area (100000 sqmt.) within a period of ten years from the date of notification of the SEZ in which at. least fifty ....
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....of UAC, the unit preferred an appeal before the BoA stating that under SEZ Act, Rules & Regulations and relevant Power Guidelines, (i) the O&M benefits during the period 01.04.2015 to 15.02.2016 and (ii) duty free benefits for transfer of power to EOU were admissible. The Appellant has stated that the period from 1.4.2015 to 15.2.2016 is governed by the power guidelines of 27.2.2009 as per DOC letter dated 6.4.2015. The 27.2.2009 guidelines allow O&M benefits for the unit. Further, even 21.3.2012 and 16.2.2016 guidelines also permit O&M benefits to units. Further, Appellant has claimed that duty free benefits for transfer of power from SEZ unit to EOU are admissible under Rule 47(3)(c) of SEZ Rules. It is to be noted that Rule 47(3)(c) has not been kept in abeyance vide Instruction No 75 dated 7.2.2011. Further for EOUs, Custom Notification No 52/2003, stipulates that all goods including electricity can be sold to.EoU without payment of duty. Therefore,. appellant has claimed that UAC order 01.04.2016 directing the unit to refund an amount of Rs. 1,55,76,751/- being the duty foregone on material procured form DTA & imported for, op....
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....2016, applied to DC, CSEZ to run the DG sets installed in the Processing Area of SEZ as a SEZ unit 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. Manyata Promoters Private Limited (MPPL) has preferred the appeal on the grounds that both 2009 Guidelines and 2016 guidelines permitted duty free import of capital goods, raw material and consumables etc. BoA observed 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. In view of the above BoA, after detailed consideration, rejected the appeal. (iv) Appeal of M/s. Morgan Teetronics Ltd. (MTL) against the order dated 23.02.2016 passed by the DC NSEZ/UAC M/s. Morgan Tectronics Ltd. (MTL) has preferred an appeal against the order dated 23.02.2016 passed by the DC, NSEZ/UAC which was placed before the 70th Bo....
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....fferent revenue agencies against the M/s Morgan Tectronics Ltd at DRI, Lucknow Zonal Unit and NSEZ, Customs and DRI, HQ, New Delhi. In view of the above, after detailed deliberations, the BOA observed that no grounds have been made for the appeal and hence rejected the appeal. Decision on Supplementary Agenda Item No. 73.8 Requests for extension of LoP beyond 3rd Year onwards (i) Request of M/s. Tech Mahindra Ltd. (Unit-IV), a unit in NSEZ for extension of LoP beyond 22^nd September 2016 The Board, noted that no construction activity had commenced and permitted a final extension of six months up to 22.4.2017 for getting the Building Plan approved by NOIDA Authority and that the Developer must commence construction activity by that time, which shall be duly certified by a Chartered Engineer. (ii) Request of M/s. Webel Ltd., an IT unit in M/s. M.L. Dalmia & Co. IT/ITES SEZ at Bangala, Kolkata for extension of LoP beyond 22.04.2016 The Board, after deliberations, extended the validity of the LoP up to 22^nd April, 2017. (iii) Request of M/s. NKB Hardware, a unit in NSEZ for extension of LoP beyond 27.1....
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....itions laid down in Rule 11A of the SEZ Rules, 2006. Item No, 73.11 Miscellaneous Cases (i) Request of M/s. Aequs SEZ Private Limited for sectoral broad banding in sector specific SEZ for precision engineering products at Belgaum, Karnataka to' IT/ITES, Electronic Components and hardware manufacturing energy BPO (including Lega, medical and similar services) KPO and R&D Services The Board, after deliberations, approved the proposal, Item No. 73.12: Cancellation of Formal Approvals The Board examined the following 2 cases of cancellation of formal approval /and approved cancellation of their formal approvals:- Sr. No. Name of the Developer/co-developer Sector Date of formal approval Zone 1. M/s Karanja Infrastructure (P) Ltd. (vill. Chanje, Tal Uran, Raigad) FTWZ 31.10.2006 SEEPZ 2. M/s Gitanjali Gems Ltd. (Panvel Village, Raigad) Gems & Jewellery 25.10.2006 SEEPZ The cancellation is 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 refunde....
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....of 1.59 hectares. The Board, after deliberations, approved the proposal for formal approval for setting up of a sector specific Special Economic Zone for IT/ITES at Sy. No. 31/1 Chikkankannelli Village, Varthur Hobli, Bangalore East Taluk, Bangalore, Karnataka, over an area of 1.59 hectares. Decision on Table Agenda Item No. 73.15: Miscellaneous Cases (i) Request of M/s. Wipro Ltd. at Survey No. 39, Old TB Hospital Area, Visakhapatnam to add additional area to the already approved area for its IT/ITES SEZ The Board, after deliberations, rejected the proposal as the. NoC from Government of Andhra Pradesh, IT E& C had not been received. (ii) Request of M/s. CCL Products (India) Limited for setting up of a sector specific SEZ for Agri based Food Processing at Kuvakolli Village, Vardaiah Palem Mandal, Chittoor, Andhra Pradesh over an area of 11.87 hectares. The Board, after deliberations, approved the proposal. Annexure I List of Participants for the Meeting of the Board of Approval for Special Economic Zones held on 9^th November, 2016 under the Chairpersonship of Commerce Secretary, Department of....