Page 173 - DCOM508_CORPORATE_TAX

Page 173 - DCOM508_CORPORATE_TAX_PLANNING

P. 173

Corporate Tax Planning

Notes (i) On the 23rd day of December, 2002 and ending before the 1st day of April, 2012,
in any Export Processing Zone or Integrated Infrastructure Development Centre
or Industrial Growth Centre or Industrial Estate or Industrial Park or Software

Technology Park or Industrial Area or Theme Park, as notiﬁed by the Board in

accordance with the scheme framed and notiﬁed by the Central Government in this
regard, in the State of Sikkim; or
(ii) On the 7th day of January, 2003 and ending before the 1st day of April, 2012, in any
Export Processing Zone or Integrated Infrastructure Development Centre or Industrial
Growth Centre or Industrial Estate or Industrial Park or Software Technology Park
or Industrial Area or Theme Park, as notiﬁed by the Board in accordance with the

scheme framed and notiﬁed by the Central Government in this regard, in the State of

Himachal Pradesh or the State of Uttaranchal; or
(iii) On the 24th day of December, 1997 and ending before the 1st day of April, 2007,
in any Export Processing Zone or Integrated Infrastructure Development Centre
or Industrial Growth Centre or Industrial Estate or Industrial Park or Software

Technology Park or Industrial Area or Theme Park, as notiﬁed by the Board in

accordance with the scheme framed and notiﬁed by the Central Government in this
regard, in any of the North-Eastern States;
(b) Which has begun or begins to manufacture or produce any article or thing, speciﬁ ed in

the Fourteenth Schedule or commences any operation speciﬁed in that Schedule, or which

manufactures or produces any article or thing, speciﬁed in the Fourteenth Schedule or

commences any operation speciﬁed in that Schedule and undertakes substantial expansion
during the period beginning—
(i) On the 23rd day of December, 2002 and ending before the 1st day of April, 2012, in
the State of Sikkim; or

(ii) On the 7th day of January, 2003 and ending before the 1st day of April, 2012, in the
State of Himachal Pradesh or the State of Uttaranchal; or
(iii) On the 24th day of December, 1997 and ending before the 1st day of April, 2007, in
any of the North-Eastern States.
Section 80-IE applies to any industrial undertaking which fulﬁls all the following conditions,

namely:
This section applies to any undertaking which has, during the period beginning on the 1st day
of April, 2007 and ending before the 1st day of April, 2017, begun or begins, in any of the North-
Eastern States,—
(i) to manufacture or produce any eligible article or thing;
(ii) to undertake substantial expansion to manufacture or produce any eligible article or
thing;

(iii) to carry on any eligible business.

This section also applies to any undertaking which fulﬁls all the following conditions, namely:
(i) it is not formed by splitting up, or the reconstruction, of a business already in existence:
Provided that this condition shall not apply in respect of an undertaking which is formed
as a result of the re-establishment, reconstruction or revival by the assessee of the business
of any such undertaking as referred to in section 33B, in the circumstances and within the
period speciﬁed in the said section;

(ii) it is not formed by the transfer to a new business of machinery or plant previously used for
any purpose.

168 LOVELY PROFESSIONAL UNIVERSITY

168 169 170 171 172 173 174 175 176 177 178