SECTION 80-IA, SUB-CLAUSE (iii) OF
SUB-SECTION (4) OF THE INCOME-TAX ACT, 1961 - DEDUCTIONS - IN RESPECT OF
PROFITS AND GAINS FROM INDUSTRIAL UNDERTAKINGS, OR ENTERPRISES ENGAGED IN
INFRASTRUCTURE DEVELOPMENT, ETC. - NOTIFIED UNDERTAKINGS
Notification No. 55/2012, [F.NO.
178/49/2009-ITA-I], Dated 28.12.2012
Whereas the
Central Government in exercise of the powers conferred by clause (iii) of
sub-section (4) of section 80-IA of the Income-tax Act, 1961(43 of
1961)(hereinafter referred to as the said Act), has framed and notified a
scheme for industrial park, by the notifications of the Government of India in
the Ministry of Commerce and Industry (Department of Industrial Policy and
Promotion) vide number S.O. 193 (E), dated the 30th March, 1999 for the
period beginning on the 1st day of April, 1997 and ending on the 31st day of
March 2002 and vide number S.O.354(E) dated the 31st day of March, 2006;
And whereas M/s.
iLABS Hyderabad Technology Centre Private Ltd. having its registered office at
iLABS Centre, Building No. 3, Plot No. 18, Software Units Layout, Madhapur,
Hyderabad-500 081, is developing an Industrial Park at Plot No. 18, Software
Units Layout Town/Tehsil-Madhapur, District-Hyderabad, AP-500 081;
And whereas the
Central Government has approved the said Industrial Park vide Ministry of
Commerce and Industry letter No. 15/37/2006-ID-II dated 03-03-2009 subject to
the terms and conditions mentioned therein as subsequently amended vide Ministry
of Commerce and Industry letter No. 15/37/2006-ID-II dated 10.4.2012;
Now, therefore,
in exercise of the powers conferred by clause (iii) of sub-section (4) of
section 80-IA of the said Act, the Central Government hereby notifies the
undertaking, being developed and being maintained and operated by M/s. iLABS
Hyderabad Technology Centre Pvt. Ltd., Hyderabad, as an industrial park for the
purposes of the said clause (iii) subject to the terms and conditions mentioned
in the annexure of the notification.
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