TaxTMI 
TaxTMI 
Minutes of the 89th meeting of the. Board of Approval for SEZ held on 22nd April, 2019 to consider setting up of Special Economic Zones and other miscellaneous proposals
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....87th meeting of the BoA (Item No. 87.10(v)) were amended vide DoC's O.M. dated 04.04.2019. However, while ratifying the amended minutes of the 87th meeting of the BoA and the 88th meeting of the BoA, the representative of DGEP flagged the issue and had requested for some time to furnish their comments in view of the amendment to minutes of the 87th meeting of the BoA (Item no. 87.10(v)) issued on 04.04.2019 by DoC. Now, vide O.M. dated 26.04.2019, the views of the DGEP have since been received which reads as follows: "Representative of DoR informed that the DoR with the approval of Finance Secretary had furnished its comments vide its 0M dated 13.08.2018 that as the matter was a policy decision, DoC may take an appropriate view in the matter. Except for that, DoR has no comments to offer. DoR pointed out that the earlier power guidelines had not been approved by the BoA. DoR pointed out that agenda item may not be considered in BoA meeting as BoA is not empowered to modify power guidelines as the power guidelines dated 16.02.2016 were framed by DoC. The Board was informed that the Hon'ble Commerce and Industry Minister had directed that the matter may be deliberated....
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....alwara, Tehsil- Sanganer, Jaipur for extension of Letter of Approval (LoA) for a further period of one year i.e. upto 17.03.2020. The Board, after deliberations, approved extension of the validity of the LoA up to 17th March, 2020. 89.3 (iv) Request of Tweaking Technologies Pvt. Ltd., a unit in Mahindra World City (Jaipur) Ltd., a Multi-Product SEZ at Village Kalwara, Tehsil- Sanganer, Jaipur for extension of Letter of Approval (LoA) for a further period of one year i.e. upto 07.04.2020. The Board, after deliberations, approved extension of the validity of the LoA up to 7th April, 2020. 89.3(v) Request of M/s. Krushna Casual Wears Pvt. Ltd., a unit in Ahmedabad Apparel Park-SEZ (Sector Specific SEZ for Textiles & Textile Article), Khokhra, Ahmedabad for extension of LoA upto 23.03.2020. The Board, after deliberations, approved extension of the validity of the LoA up to 23rd March, 2020. 89. 3(vi) Request of M/s. Fibrofit Industries a unit in AMRL Hi Tech City Ltd., multi product SEZ at Nanguneri, Tirunelveli District, Tamil Nadu SEZ for extension of Letter of Approval (LoA) from 17.11.2018 to 16.07.2020 for 18 months. The Board, after deliberations, approved extension of the....
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....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 co-developer shall furnish details of PAN and jurisdictional assessing officer of the co-developer to CBDT. 89.7(ii) Request of M/s. Festus Properties Pvt. Ltd. at Powai, Mumbai for change in shareholding pattern of the company. The Board noted that proposal does not indicate whether it has the approval under relevant statutes. The Board, aft....
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....ll 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 co-developer shall furnish details of PAN and jurisdictional assessing officer of the co-developer to CBDT. 89.7(iv) Request of M/s. ETA Technopark Limited SEZ, Developer located at Old Mahabilipuram Road, Kancheepuram District, Chennai, Tamil Nadu for change in shareholding pattern, change of Board of Directors and change of name of the SEZ. The Board noted that proposal does not indicate whether it has the approval under relevant statutes. The Board, after deliberations, approved the proposal of the developer for change in shareholding pattern, change of Board of Directors and change of name of the SEZ to M/s. Bayline Infocity Limited subject t....
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....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 co-developer shall furnish details of PAN and jurisdictional assessing officer of the co-developer to CBDT. Item No. 89.8 Proposals for renewal of LoP for worn and used clothing units (three proposals). 89.8(i) Proposal of M/s Kandla Exim Pvt. Ltd. for renewal of LOA for next five years in terms of Rule 18(4) of SEZ Rules, 2006. The Board, after deliberations, decided to extend the validity of the unit upto 30.11.2019 as decided in the case of such other 15 worn clothing units in its 86th meeting held on 22.11.2018 in order to keep uniformity. The extension shall be subject to the outcome on the recommendations of the Committee formed to examine plastic recycling and worn and used clothing units. 89.8(ii) Proposal ....
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....al in respect of its unit located in the Multi-Product SEZ of M/s. Mahindra World City (Jaipur) Ltd. at Village Kalwara, Jhai, Bhamboriya, Bagru Khurd & Newta, Tehsil-Sananer, Distt- Jaipur (Rajasthan). The Board, after deliberations, decided to defer the matter. DC, NSEZ was advised to re-examine the proposal and the views of DoR may be obtained. 89.9(iii) Request of M/s. L&T Hydrocarbon Engineering Ltd., - a SEZ Unit for grant of special permission for movement of goods from Port of Import to Job-worker's premises before its entry into SEZ. The Board, after deliberations, decided to defer the matter as the activity is not allowed under the prevailing rules. The Board, further directed that the issue may be taken up on file for review of rules. 89.9(iv) Proposal for cancellation of Letter of Approval in respect of M/s Swarnim Dahej Spring Desalination P. Limited, Co-Developer, Dahej SEZ. The Board, after deliberations, approved cancellation of co-developer status granted to M/s. Swarnim Dahej Spring Desalination P. Limited in the Dahej SEZ. 89.9(v) Irregularities and compliance issues in the Port based SEZ developed by Cochin Port Trust in Puthuvypeen, Ernakulam District....
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.... however, it is a procedural lapse and its consequences should not be harsh enough to effect the livelihood of the appellant. The appellant placed reliance on the decision passed by the Hon'ble Allahabad High Court in the case of Microcomm India Limited Vs Uol -2008(4) TMI 663. The Board, observed that - (i) The unit has done no exports from 2012-13. (ii) The unit has been issued Show Cause Notice by the Customs Department for contravention of provisions of Customs Act, 1962 as they were unable to disclose the proper source of procurement of yellow metal found in their factory premises. The unit has submitted an interim reply dated 25.03.2019 to the Commissioner of Customs. (iii) The judgments quoted by the unit only provide for consideration in such cases which involve procedural violation. However, in the instant case, the unit, by its own admission, has been engaged in jobwork of jewellery (a sensitive commodity), in an unauthorized manner without intimating the SEZ. This is a clear case of a substantive violation and cannot be overlooked or excused as in the case of minor procedural violations. With the above observations, the Board decided to reject the appeal. D....