TaxTMI 
TaxTMI 
Minutes of the 81th meeting of the. Board of Approval for SEZ held on 05 February 2018 to consider setting up of Special Economic Zones and other miscellaneous proposals
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....ed as a matter of routine unless some progress has been made on ground by the developers. The Board, therefore, after deliberations, extended the validity of the formal approval to the requests for extensions beyond fifth years for a period of one year and those beyond sixth year for a period of 6 months from the date of expiry of last extension." (i) Request of M/s. TCS Ltd. SEZ Indore for further extension of the validity period of formal approval, granted for setting up of sector specific IT/ITES SEZ at Indore, Madhya Pradesh, beyond 28th February 2018. The Board, after deliberations, approved extension of the validity of the formal approval up to 28th February, 2019. (ii) Request of M/s. G.P. Realtors Pvt. Ltd. for further extension of the validity of formal approval granted for setting up of Electronic Hardware & IT/ITES SEZ at Village Behrampur, Balola & Bandhwari, Distt. Gurgaon (Haryana) beyond 25.01.2018. The Board, after deliberations, approved extension of the validity of the formal approval up to 25th January, 2019. (iii) Proposal of M/s. Mahindra World City (Jaipur) Ltd. for extension in the validity period of formal approval granted for setting up of IT/ITES inc....
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....ida SEZ for extension of Letter of Permission (LOP) beyond 28/02/2018 upto 28/02/2019. The Board, after deliberations, approved extension of the validity of the LoP up to 28th February, 2019. (iii) Request of M/s. Kusum Healthcare Pvt. Ltd. in Indore SEZ for extension of Letter of Permission (LOP) beyond 28.02.2018 for one year upto 28.02.2019 The Board, after deliberations, approved extension of the validity of the LoP up to 28th February, 2019. (iv) Extension in validity of Letter of Approval dated 06-02-2013, issued to M/s. Macson Colorchem Pvt Ltd., Dahej-SEZ, Bharuch, Gujarat. The Board, after deliberations, approved extension of the validity of the LoP up to 5th February, 2019. Item No. 81.3 Requests for co-developer (4 proposals) (i) Request of M/s. Synergy Infotech Pvt. Ltd. for Co-developer status in MIDC IT/ITES SEZ, Rajiv Gandhi Infotech Park, Phase-III, Hinjewadi, Pune for construction of buildings and related infrastructure for IT/ITES Units, Development of space of IT/ITES Unit and all default authorized operations for area admeasuring 5.2161 sq. mtrs. The Board, noted that M/s. Synergy Infotech Pvt. Ltd. had failed to implement the project for setting up of ....
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....ack Canyon Undertaking to eligible tenants and management of such tenancies in the processing area of SEZ in accordance with the co-developer agreement entered into with the developer, subject to standard terms and conditions as per SEZ Act and Rules provided that the lease period does not exceed 30 years (Renewable). Item No. 81: Proposals for setting up of SEZs (one proposal) (i) Request of M/s. Adani Power (Jharkhand) Limited for In-Principle approval for setting up of a sector specific SEZ for Power at Godda District, Jharkhand, over an area of 425 hectares. The Board noted that the proposal was inconsistent with the Power Guidelines dated 16.02.2016 and also that there was no recommendation from the State Government and after deliberation, decided not to approve the proposal. Item No. 81.4: Change of Shareholding Pattern Cases (12 proposals) (i) Request of M/s. Ameks Techfab Pvt. Ltd. for extension of LoA; 100% change in shareholding pattern with change in Directors and grant of Industrial License The Board, after deliberations decided to grant In-principle approval for extension of LoA beyond 21.09.2014 and the proposed changes in share holding pattern of the unit subje....
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....quity/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. (iv) Request of M/s Goldmine Overseas, a unit in Moradabad SEZ at Plot G-61, Pocket-A, SEZ Moradabad for transfer of shares exceeding 50% to another entity. The Board approved the proposal subject to following conditions:- i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered unit entity; ii) Fulfilment of all eligibility criteria applicable to unit, including security clearances etc., by the altered unit entity and its constituent....
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....tails of PAN and jurisdictional assessing officer of the unit to CBDT. (vi) Proposal of M/s. Sopra India Pvt. Ltd., a unit in IT/ITES SEZ of M/s. Seaview Developers Pvt. Ltd., Plot No. 20 & 21, Sector-135, Noida for transfer of shares exceeding 50% to another entity consequent to scheme of amalgamation of M/s. Sopra India Pvt. Ltd. with M/s. Steria (India) Ltd approved by The National Company Law Tribunal, Principal Bench at New Delhi vide Order dated 16/29.08.2017. The Board approved the proposal subject to following conditions:- i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered unit entity; ii) Fulfilment of all eligibility criteria applicable to units 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 in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the jurisdictional Autho....
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....hiruvananthapuram and Bagmane Developers Pvt. Limited SEZ (II), Bangalore for transfer of shares exceeding 50% to another entity and change in constitution from Private Limited to Limited Liability Partnership. The Board approved the proposal subject to following conditions:- i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered unit entity; ii) Fulfilment 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 unde....
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....er dated 07.08.2017 and also that the proposal (iii) above was same as (i) above and therefore decided to approve the proposals at (i) and (ii) above subject to following conditions:- i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity; ii) Fulfilment of all eligibility criteria applicable to developer, 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, 1961. vi) The applicant shall comply....
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....mation 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. Item No. 81.5 Miscellaneous Cases (10 proposals) (i) Request of M/s ANSR Global Corporation Pvt. Ltd. (formerly known as Network Information Global Services India Pvt. Ltd.), Bangalore for Co-Developer status in Manyata Embassy Business Park SEZ, Bangalore for development of the SEZ area specifically to undertake the authorized operations of conversion of bare shell buildings into warm shell buildings in an additional area of 64,090 Sq.ft. and to lease the built-up space in the above IT/ITES SEZ. After deliberations, t....
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.... Further, in the 79th BoA meeting held on 18/09/2017 the Board took note of CIDCO letter dated 16.09.2017 that the State Government of Maharashtra (UDD) and NSMEZ were in the process of resolving certain operational and regulatory issues. CIDCO has informed that the matter was referred to Advocate General of State on 06.10.2016 for legal advice on issues which may be resolved within a period of four months. The representative of the Government of Maharashtra present in the meeting stated that the Government of Maharashtra was seeking extension of three more months for resolving the issues. The Board, after deliberations, approved extension of validity of formal approval for setting up of above eight SEZs by Navi Mumbai SEZ Pvt. Ltd. (NMSEZ) for further period of three months beyond 18.9.2017. In view of the above, the Board noted that ample time had been allowed to the Developer and State Government of Maharashtra flor resolving their issues and despite that no concrete action seems to have been taken. The Board, after deliberations, decided to cancel the formal approval granted to the eight SEZs. (vi) Proposal of M/s. Syndicate Innovations International Ltd. for setting up a un....
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....ing under Policy guidelines dated 17.9.2013 in respect of Used and Worn Clothing Units is not tenable. Therefore the Board, decided that the appeal is liable for rejection. Annexure - I List of Participants for the Meeting of the Board of Approval for Special Economic Zones held on 5th February, 2018 under the Chairpersonship of Commerce Secretary, Department of Commerce. 1. Ms. Rita Teaotia, Chairperson, BoA & Commerce Secretary, Department of Commerce 2. Shri Alok Vardhan Chaturvedi, DG, DGFT 3. Shri Sunil Kumar, Additional Secretary, Department of Commerce 4. Smt. Deepshikha Sharma, Addl. (CIT) OSD, CBDT, Department of Revenue, Ministry of Finance 5. Shri Saroj Kumar Behera, Joint Director, DGEP, CBEC 6. Shri Sunil Srivastava, Assistant Director, DGEP, Department of Revenue, Ministry of Finance 7. Dr. Rakesh. A.R., Research Assistant TCPO, Ministry of Housing & Urban Affairs. 8. Shri Anil Kant Mishra, Research Assistant TCPO, Ministry of Urban Development, Vikas Bhawan, I.P. Estate, New Delhi 9. Ms. Urmila, Joint Director, Ministry of Environment Forest & Climate Change. 10. Shri Rajiv Malik, Assistant Resident Commissioner, Govt. of Maharashtra, Maha Sadan. 11. Shr....