Approval of Ganesh Housing Corporation Ltd as an Industrial Park under Section 80-Ia of Income Tax Act

NOTIFICATION NO. 1/2013, DATED 8-1-2013

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.0.354(E), dated the 31st day of March, 2006;

And whereas M/s. Ganesh Housing Corporation Ltd. having its registered office at 1st Floor, “Samudra”, Near Klassic Gold Hotel, C.G. Road, Ellisbridge, Ahmedabad-380006, is developing an Industrial Park at International Pharma and Biotech Park, Matoda-Sari, Ahmedabad, Gujarat.

And whereas the Central Government has approved the said Industrial Park vide Ministry of Commerce and Industry letter No. 15/21/04-IP&ID, dated 5-11-2004 subject to the terms and conditions mentioned therein;

And whereas the Hon’ble Gujarat High Court in its order dated 10.8.2011 in Special Civil Application 15962 of 2012 has directed the Central Board of Direct Taxes and the Ministry of Commerce to take consequential steps to ensure that necessary notification of the aforementioned industrial park is issued for the benefits under section 80-IA in terms of Rule 18C(4) of the Income Tax Rules, 1962.

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. Ganesh Housing Corporation Ltd., 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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