TaxTMI 
TaxTMI 
Minutes of the 84th meeting of the. Board of Approval for SEZ held on 12 September 2018 to consider setting up of Special Economic Zones and other miscellaneous proposals
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....n justifiable reasons. Board also observed that extensions may not be granted 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." 84.1 (i) Request of M/s. Golden Tower Infratech Pvt. Ltd. for further extension of the validity of formal approval granted for setting up of IT/ITES SEZ at Plot No. 8, Sector-144, Noida (U.P.) beyond 02.09.2018 and extension in time line. The Board, after deliberations, decided that the proposal may be considered on file. 84.1 (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, Tehsil Sohna, Gurgaon (Haryana) beyond 13.11.2018. 84.12 (i) Request of M/s. G.P. Realtors Pvt. Ltd., Developer of Electronic Hardware & IT/ITES SEZ at Village Behrampur, Distt- Gurugram (Haryana) for transfer of formal approval in the name of M/s. ....
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....sion of the validity of the LoP up to 15^th April, 2019. 84.2 (vi) Request of M/s. P. Mittal Manufacturing Pvt. Ltd. in the Noida SEZ for extension of Letter of Permission (LOP) beyond 11.09.2018 upto 11.09.2019. The Board, after deliberations, approved extension of the validity of the LoP up to 11^th September, 2019. 84.2 (vii) Request of M/s. Helios Photo Voltaic Ltd., a unit in Non-Conventional Energy sector specific SEZ of M/s. Moser Baer India Ltd. at 66B, Udyog Vihar, Greater Noida (U.P.) for extension of 2^nd block of five years effective from 17.05.2012 for one year i.e. upto 16.05.2019. The Board, was informed that BOA has extended the validity of LOA under similar circumstances upto 16.05.2018. The Board, therefore, approved extension of the validity of the LOP up to 16th May, 2019. Item No. 84.3: Requests for co-developer (one proposal) 84.3 (i) Request of M/s. Vatten Terros Technik Private Limited for co-developer status in M/s. Kakinada SEZ limited, multi-product SEZ at East Godavari District, Andhra Pradesh. The Board, after deliberations, approved the proposal of M/s. Vatten Terros Technik Private Limited for Co-developer status in Kakinada SEZ t....
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....s 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. 84.5 (ii) Proposal of M/s. Sands Infrabuild Private Limited, co-developer of Smartcity (Kochi) Infrastructure Private Limited SEZ, Kochi for change in shareholding pattern. The Board noted that proposal does not indicate whether the change in shareholding pattern has the approval under relevant statutes. The Board, after deliberations, approved the proposal subject to approval by relevant statutory body for such change in shareholding pattern with following conditions:- i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered co-developer entity; ii) Fulfilment of all eligibility criteria applicable to co-developer, including security clearances etc., by the altered co-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....
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....TC Industrial Area, Ghansoli, Navi Mumbai for change of shareholding pattern of more than 50%. The Board noted that proposal does not indicate whether the change in shareholding pattern has the approval under relevant statutes. The Board, after deliberations, approved the proposal subject to approval by relevant statutory body for such change in shareholding pattern with following conditions:- i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered co-developer entity; ii) Fulfilment of all eligibility criteria applicable to co-developer, including security clearances etc., by the altered co-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 ar....
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....rashtra for change in shareholding pattern. The Board noted that proposal does not indicate whether the change in shareholding pattern has the approval under relevant statutes. The Board, after deliberations, approved the proposal subject to approval by relevant statutory body for such change in shareholding pattern with 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, ama....
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....the approval under relevant statutes. The Board, after deliberations, approved the proposal subject to approval by relevant statutory body for such change in shareholding pattern with 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 ownership etc. as may be applicable and eligible for deduction under relevant sections of the Income Tax Act, 1961. ....
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....uents; 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 ownership etc. as may be applicable and eligible 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. 84.5 (xi) Request of M/s. IBS Software Services Private Limited, a co-developer in ETP SEZ-I for permission for transfer of LoA dated 16.08.2007 to holding company M/s. IBS Software Private Limited in accordance with amalgamation order issued by ....
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....gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownership etc. as may be applicable and eligible 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. Item No. 84.6: Increase in area developer/co-developer (4 proposals) 84.6 (i) Request of M/s. Phoenix Spaces P Ltd. for setting up of sector specific SEZ for IT/ITES at Sy. No. 285/P, Puppalguda Village, Rajendra Nagar Mandal Ranga Reddy District, Telangana, for increase is an area of 3.14 hectares. The Board, after deliberations, approved the proposal. 84.6(ii) Request of M/s. Nalanda Shelters Pvt. Ltd. a sector specific SEZ for IT/ITES at Survey no. 129/1, 130/1, 1311, 128/2, Hinjewadi, Phase 1, Dist. Pune, for increase in an area of 1.6596 hectares. The Board, after deliberations, approved the proposal subject to No Objection Certificate from the State Government. 84.6 (iii) Request of M/s ANSR Global Corporation P....
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....tered 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 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. 84.7 (iii) Request of M/s. The Manjari Stud Farm Private Limited at village Phursungi, Taluka-Haveli, District Pune, Maharashtra for permission for laying down water pipe line from canal to Domestic Tariff....
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....lidation of the LoA cancelled by the UAC vide their order dated 02.03.2012. The Board heard the appellant and reserved the matter for further deliberations. 84.8 (iii) Appeal of M/s. Flawless Jewels requesting to set aside impugned orders dated 01.05.2018 and 21.05.2018 passed by SEEPZ SEZ for cancellation of LoA for Gala No. 102 & 104, SDF-VIII, SEEPZ SEZ. The Board heard the appellant and reserved the matter for further deliberations. 84.8 (iv) Appeal of M/s. Malhar Jewels requesting to set aside impugned orders dated 01.05.2018 and 21.05.2018 passed by SEEPZ SEZ for cancellation of LoA for Gala No. 301, SDF-VIII, SEEPZ SEZ. The Board heard the appellant and reserved the matter for further deliberations. 84.8 (v) Appeal of M/s. Pure Gold Jewellers & Diamonds (India) Pvt. Ltd. requesting to set aside impugned orders dated 01.05.2018 and 21.05.2018 passed by SEEPZ SEZ for cancellation of LoA for Gala No. 401, 402, 403 & 404, SDF-VIII, SEEPZ SEZ. The Board heard the appellant and reserved the matter for further deliberations. 84.8 (vi) Appeal of M/s. Vijay Exports requesting to set aside impugned orders dated 01.05.2018 and 21.05.2018 passed by SEEPZ SEZ for ....
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....al dated 03.08.2018 of M/s. TRIL Infopark Ltd. against the decision of the DC, MEPZ order dated 28.06.2018 for rejection of request for allowing advertisement activities in Ramanujan IT City Campus. The Board heard the appellant and reserved the matter for further deliberations. 84.8 (xiv) Appeal dated 02.08.2018 of M/s. Rain CII Carbon (Vizag) Ltd. against the decision of the UAC order dated 23.07.2018 for rejection of request for amendment of LoA to include manufacture of additional products under broad-banding. The Board heard the appellant and reserved the matter for further deliberations. Decision on Supplementary Agenda Item No. 84.9 Request for extension of LoP beyond 3^rd Year onwards (3 proposals) 84.9(i) Request of M/s Bansal Inc., a unit in the Moradabad SEZ for extension of Letter of Permission (LOP) beyond 3^rd year from 24.07.2018 up to 23.07.2019. The Board, after deliberations, approved extension of the validity of the LoP up to 23^rd July, 2019. 84.9(ii) Request of M/s. Dorf Ketal Chemicals (India) Pvt. Ltd., Plot No Z-108, Dahej SEZ Ltd, Part II, Dahej SEZ, Tal: Vagra, Dist: Bharuch, Gujarat for the Extension of the Letter of Approval (LOA)....
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....mited for distribution of utilities (electricity and water supply) in both the Sectors of FTWZ and Additional Sector for Electronic Hardware and Software (Including ITES) 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. 84.11: Proposals for setting up of SEZ (one proposal) 84.11 (i) Request of M/s. AIGP Developers (Pune) Private Limited for setting up of a sector specific SEZ for IT/ITES at Wagholi and Kharadi Village, Pune, Maharashtra over an area of 6.69 hectares. The Board, after deliberations, approved the proposal for setting up of a sector specific Special Economic Zone for IT/ITES at Wagholi and Kharadi Village, Pune, Maharashtra, over an area of 6.69 hectares. Item No. 84.12 Change of Shareholding Pattern/Change of Name Cases/merger/de-merger (2 proposals) 84.12 (ii) Request of M/s. IBS Software Services Private Limited, a co-developer in Infopark SEZ (I) for permission for transfer of LoA dated 21.07.2008 to holding company M/s. IBS Software Private Limited in accordance with amalgamati....