These are the latest notifications issued by CBDT on Income Tax which have been published recently. The notifications are open for discussion and we invite expert comments from our members on its applicability and effect on relevant issues.
S.O. 1465(E).—Whereas the Central Government in exercise of the powers conferred by clause (iii) of subsection (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 notification of the Government of India in the Ministry of Finance (Department of Revenue, Central Board of Direct Taxes) vide number S.O. 51 (E), dated the 8th January, 2008; And whereas M/s Romell Real Estate Pvt. Ltd., having its industrial park at Plot A-3, Survey Number 586/2,4,6,7 Village Pahadi Goregoan, Taluka Borivali, Mumbai, Maharashtra.
Now, therefore, in exercise of the powers conferred by clause (iii) of sub section (4) of section 80-IA of the said Act, read with rule 18C of the Income-tax Rules, 1962, the Central Government hereby notifies the undertaking from the date of commencement of the industrial park the 8th June, 2010 being dev loped and being maintained and operated by M/s Romell Real Estate Pvt. Ltd., for the purposes of the said clause (iii) subject to the terms and conditions mentioned in the Annexure to this notification.