Ministry of Finance
Notification No. 23/2019 [F. No. 178/30/2017-ITA-I] / SO 1396(E) was published on 19 March 2019. Its subject is Ministry of Finance.
Under clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 read with rule 18C of the Income-tax Rules, 1962, the Central Government amends its notification S.O. 1647(E) dated 11 May 2012, by which the industrial park of Intime Properties at Survey No. 64 (part), Madhapur, Hyderabad, District Rangareddy had been notified under the industrial park scheme framed by S.O. 51(E) dated 8 January 2008. The substitution replaces the description of the project: in both the recital and the notifying paragraph, "Building No. 5B, 6 and 9" gives way to "Building No. 5B and 9", so that Building No. 6 goes out of the notified industrial park. The substitution is deemed to have been applied for assessment year 2018-19 and subsequent assessment years.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 19th March, 2019
S.O. 1396(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 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 Intime Properties Limited (the "Company"), having its registered address at plot No C-30,
Block-G, Bandra-Kurla Complex, Bandra (East), Mumbai 400051 has developed an Industrial Park at Building No. 5B, 6
and 9 at Survey No. 64(part), Madhapur, Hyderabad, Distt. Rangareddy, Andhra Pradesh;
And whereas the Central Government in exercise of 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, notified the undertaking vide
S.O. 1647(E) dated 11th May, 2012;
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 substitutes clause(s) in
item (1) with clauses in item (2) as below:(1) (2)
And whereas M/s. Intime Properties Private Limited.,
Mumbai having its registered address at Plot No. C-30,
Block-G. Bandra-Kurla Complex, Bandra (East), Mumbai
400051 has developed an Industrial Park at Building
No. 5B, 6 and 9 at Survey No.64(part), Madhapur,
Hyderabad, Distt. Rangareddy, Andhra Pradesh.
And whereas M/s. Intime Properties Private Limited.,
Mumbai having its registered address at Plot No. C-30,
Block-G. Bandra-Kurla Complex, Bandra (East), Mumbai
400051 has developed an Industrial Park at Building
No. 5B and 9 at Survey No.64(part), Madhapur,
Hyderabad, Distt. Rangareddy, Andhra Pradesh.¹Hkkx IIµ[k.M 3(ii)º Hkkjr dk jkti=k % vlk/kj.k 3
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 M/s. Intime
Properties Private Limited., Mumbai as an undertaking and
the project at Building No. 5B, 6 and 9 at Survey
No. 64(part), Madhapur, Hyderabad, Distt. Rangareddy,
Andhra Pradesh being developed and being maintained and
operated by the said undertaking, as an industrial park for
the purposes of the said clause (iii) subject to the following
terms and conditions:-
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 M/s. Intime
Properties Private Limited., Mumbai as an undertaking and
the project at Building No. 5B and 9 at Survey
No. 64(part), Madhapur, Hyderabad, Distt. Rangareddy,
Andhra Pradesh being developed and being maintained and
operated by the said undertaking, as an industrial park for
the purposes of the said clause (iii) subject to the following
terms and conditions:-
This substitution shall be deemed to have been applied for the assessment Year 2018-19 and subsequent
assessment years.
[Notification No. 23/2019/F. No. 178/30/2017-ITA-I]
RAJARAJESWARI R., Under Secy.
Note : Principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) vide
notification number, S.O. 1647(E), dated 11th May, 2012.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.
| Rule of the 1962 Rules | Now, in the 2026 Rules |
|---|---|
| Rule 18C | no counterpart recorded |
Assessment year 2018-19 and subsequent assessment years, retrospectively.
In the undertaking's claim to deduction under section 80-IA(4)(iii) in its return for assessment year 2018-19 onwards, and in any assessment testing which buildings form part of the notified industrial park.
Rules it names. Rule 18C of the Income-tax Rules, 1962. The 1962 Rules were replaced by the Income-tax Rules, 2026, which renumbered nearly everything: a rule number quoted here almost never means the same rule today.
← Notification No. 27/2019 [F.No. 500/182/2018 -FT&TR - V] /SO 1420(E) · Notification No. 24/2019/F. No. 300196/73/2018-ITA-I] / SO 1397(E) →
Source: the Income Tax Department’s own published text — its page for this instrument.
