MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 23rd February, 2017
(INCOME-TAX)
S.O. 617(E).— 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. 354(E), dated the 1st day of April, 2002,
for the period beginning on the 1st day of April, 1997 and ending on the 31st day of March, 2006;
And whereas M/s. Ascendas IT Park (Chennai) Ltd. having its registered office at 1st Floor, Pinnacle Building,
International Tech Park, CSIR Road, Taramani., Chennai- 600 113 has developed an industrial park located at Survey
No. TS 8/2, Block No.9, Kanagam Village, Mambalam Guindy Taluk, Survey No. TS 1/6, Block NO.7, Thiruvanmiyur
Village, Mylapore Triplicane, Chennai, Tamil Nadu-600 113.
And whereas the Central Government has approved the said Industrial Park vide Ministry of Commerce and
Industry letter No. 15/19/2006-ID-II dated 15-03-2016.
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. Ascendas IT Park (Chennai) 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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THE GAZETTE OF INDIA : EXTRAORDINARY
[PART II—SEC. 3(ii)]
ANNEXURE
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. Ascendas IT Park (Chennai) Ltd.
1. (i) Name of the Industrial
: M/s. Ascendas IT Park (Chennai) Ltd.
(ii) Proposed location
: Survey No. TS 8/2, Block No.9, Kanagam Village, Mambalam
Guindy Taluk, Survey No. TS 1/6, Block NO.7, Thiruvanmiyur
Village, Mylapore Triplicane, Chennai, Tamil Nadu-600 113
(iii) Area of Industrial Park
: 25,848.53 Sq. Mtrs.
(iv) Proposed activities
:
Nature of Industrial activity with NIC code
NIC Code
Description
S. No.
Section
Division
Group
Class
A
8
89
892
892.1
Software consultancy services
B
8
89
892
892.2
Software supply services
C
8
89
893
893.3
Data processing services
(v)
Percentage of allocable area earmarked
for Industrial use
: 93.9%
(vi) Percentage of allocable area earmarked
for commercial use
: 6.1%
(vii) Minimum number of industrial units
: 12 Units
(viii) Total investments proposed (Amount in
Rupees)
: Rs.138 crores
(ix) Investment on built up space for
Industrial use (Amount in Rupees)
: Rs. 105 crores
(x)
Investment on Infrastructure
Development including investment on
built up space for industrial use (Amount
in Rupees)
: Rs. 118 crores
(xi) Proposed date of commencement of the
Industrial Park
: 16-08-2005
2.
The minimum investment on infrastructure development in an Industrial Park shall not be less than 50% of
the total project cost. In the case of an Industrial Park which provides built-up space for industrial use, the minimum
expenditure on infrastructure development including cost of construction of industrial space, shall not be less than 60%
of the total project cost.
3. Infrastructure development shall include, roads (including approach roads), water supply and sewerage, common
effluent treatment facility, telecom network, generation and distribution of power, air-conditioning and such other
facilities as are for common use for industrial activity which are identifiable and are provided on commercial terms.
4. No single unit referred to in column (2) of the Table given in sub-paragraph (b) of paragraph 6 of S.O. 354(E) dated
the 1st April, 2002, shall occupy more than fifty per cent of the allocable industrial area of an Industrial Park. For this
purpose a unit means any separate and distinct entity for the purpose of one and more state or Central tax laws.
5. Necessary approvals, including that for foreign direct investment or non-resident Indian investment by the Foreign
Investment Promotion Board or Reserve Bank of India or any authority specified under any law for the time being in
force, shall be taken separately as per the policy and procedures in force.
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6. The tax benefits under the Act can be availed of only after the number of units indicated in Para 1 (vii) of this
Notification, are located in the industrial Park.
7. M/s. Ascendas IT Park (Chennai) Ltd., shall continue to operate the Industrial Park during the period in which the
benefits under clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 are to be availed.
8. In case the Industrial Park did not commence by 31-3-2006, fresh approval will be required under the Industrial Park
Scheme, 2008 subject to the applicability under that Scheme for availing benefits under sub-section 4(iii) of Section 80-
IA of the Income Tax Act, 1961.
9. The approval will be invalid and M/s. Ascendas IT Park (Chennai) Ltd., shall be solely responsible for any
repercussions of such invalidity, if
(i) the application on the basis of which the approval is accorded by the Central Government contains wrong
information/misinformation or some material information has not been provided in it.
(ii) it is for the location of the industrial park for which approval has already been accorded in the name of another
undertaking.
10. In case M/s. Ascendas IT Park (Chennai) Ltd., transfers the operation and maintenance of the industrial park (i.e.,
transferor undertaking) to another undertaking (i.e., the transferee undertaking), the transferor and transferee shall jointly
intimate to the Entrepreneurial Assistance Unit of the Secretariat for Industrial Assistance, Department of Industrial
Policy and Promotion, Udyog Bhawan, New Delhi-110001 along with a copy of the agreement executed between the
transferor and transferee undertaking for the aforesaid transfer.
11. The conditions mentioned in this notification as well as those included in the Industrial Park Scheme, 2002 should be
adhered to during the period for which benefits under this scheme are to be availed. The Central Government may
withdraw the above approval in case M/s. Ascendas IT Park (Chennai) Ltd., fails to comply with any of the conditions.
12. Any amendment of the project plan without the approval of the Central Government or detection in future or failure
on the part of the applicant to disclose any material fact, will invalidate the approval of the industrial park.
[Notification No. 15 /2017, F.No.178/7/2016-ITA-I]
DEEPSHIKHA SHARMA, Director(ITA-I)
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.
SARVESH KUMAR
SRIVASTAVA
Digitally signed by SARVESH
KUMAR SRIVASTAVA
Date: 2017.02.28 23:05:37 +05'30'
