Notification No. 78

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4 THE GAZETTE OF INDIA : EXTRAORDINARY [Part Il—Sec. 3(ii)]
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MINISTRY OF FINANCE vo (Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 11th October, 2010 '
$.0. 2520(E).— WHEREAS the Central Government in exercise of the powers conferred by clause (iti) of sub-section(4) of section 80-:/A of the Income-tax Act, 1961(43 of
1961 )(hereinofter referred to as the said Act), has framed and notified a scheme for :
industrial park, vide notification of the Government of India in the Ministry of Finance (Department of Revenue, Central Board of Direct Taxes) number S.O. 51(E), dated the
8h January, 2008 and amended from time to time:
AND WHEREAS, M/s. Marathon Nextgen Realty Limited, Mumbai having its registered address at Off Ganpatrao Kadam Marg, Lower Parel, Mumbai 400013 has developed an Industrial Park at Marathon Nextgen Innova IT Building, (Building No. 7},
Survey No. CS No. 2/142, Opp. Peninsula Corporate Park Off, Ganpatrao, Kadam
| Marg, Lower Parel (West), Mumbai 400013;
NOW, THEREFORE, in exercise of the powers conferred by clause (iii) of sub-section (4)
of section 801A of the said Act read with rule 18 C of the Income Tax Rules, 1962, the
Central Government hereby notifies M/s. Marathon Nextgen Realty Limited, Mumbai as an undertaking and the project at Marathon Nextgen Innova IT Building, (Building No
7}, Survey No. CS No. 2/142, Opp. Peninsula Corporate Park Off, Ganpatrao, Kadam
| Marg, Lower Parel (West), Mumbai 400013, being developed and maintained and operated by the said undertaking, as an industrial park for the purposes of the said clause {iii} subject to the ferms and conditions mentioned in the Schedule appended to this notification.

[4M 1_—ere 3(ii)] Ad Br UA : saree 5
: THE SCHEDULE |
The terms and conditions on which the approval of the Government of India has been accorded for setting up of an industrial park by M/s. Marathon Nextgen Reaity Limited,
Mumbai
| 1. (i) Name of the Industrial : M/s. Marathon Nextgen Realty
Undertaking Limited, Mumbai; .
{ii} Location of the industrial Park _ Marathon Nextgen innova IT Building, (Building No. 7}, Survey No. CS No.
. 2/142, Opp. Peninsula Corporate Park
- Off, Ganpatrao,. Kadam Marg, Lower
Parel (West), Mumbai.
fii) Minimum Constructed : 15,000 Square Meters;
Floor Area (iv) Proposed industrial activities : As defined in Industrial Park (Amendment) Scheme, 2010; (v) Percentage of allocable : 7S% ; area earmarked for industrial use (minimum)
{vi} Percentage of allocable : 10% ; area earmarked for commercial use{maximum]}
(vii) Minimum number of : 30 Units ; industrial units proposed
{viiil) Date of : 01.02.2010; commencement of the
Industrial Park
2. The Industrial Park shall be construed as developed on the date of commencement certificate from the local authority which is the 1st February, 2010.
3. The industrial park should be owned by only one undertaking.
4. ' The tax benefits under the Act shall be available to the undertaking mentioned in 1(i} only after minimum numbers of thirty units are located in the industrial Park mentioned at 1{ii). Explanation.- For the purpose of computing the minimum number of industrial units, all units of a person and his associated enterprises will be treated as a single unit. ,
B48Y Gr}io-2

6 THE GAZETTE OF INDIA : EXTRAORDINARY [Part Il—Sec. 3(ii)]
5. No industrial unit. along with the units of an associated enterprise, shall occupy
_ more than twenty-five per cent. of the allocable area.
6. The tax benefits under the Act shall be available only to the undertaking notified vide this notification and not to any other person who may subsequently develop, develops and operates or maintains and operates the notified industrial park, for any reason.
7. The Industrial units shall undertake only those activities as specified in Industrial
Park Scheme, 2008.
8. The undertaking must keep separate books of accounts for the industnal park and must file its income tax returns by the due date to the Income-tax depariment.
9. The notification shall be invalid and M/s. Marathon Nexigen Realty Limited shall be solely responsible for any repercussions of such invalidity, if -
{i) the application and subsequent documents furnished by it, on the basis of which the notification is issued by the Central Government contains wrong information or misinformation of some material information has not been provided in it:
{ii} it is for the location of the industrial park for which notification has already been issued in the name of another undertaking.
10. The undertaking shall furnish an annual report to the Central Board of Direct
Taxes in Form iPS-ll approved with the Industrial Park Scheme, 2008.
11. The conditions mentioned in this notification as well as those included in the
Industrial Park Scheme, 2008 shall be adhered to during the period for which benefits under this notification are to be availed and the Central Government may withdraw the above approval in case the undertaking, fails to comply with any of these conditions.
12. Any amendment of the project plan without the approval of the Central .
Goverment or detection in future, or failure on the part of the applicant fo disclose ‘
any material fact, shalt invalidate the approval of the industrial park.
, [Notification No. 78/2010/ F. No. 178/100/2008-ITA-I}
RAMAN CHOPRA, Director (ITA-l)
"~~«érinted by the Manager, Goverment of India Press, Ring Road. Mayaparl, New Delhi ioua)
and Published by the Controller of Publications, Delhi-110054.