TMI BlogCOMPUTATION OF PROFITS OF THE BUSINESS OF DEVELOPING OF A SPECIAL ECONOMIC ZONE MANUFACTURE OR PRODUCTION OF ARTICLE OR THINGS OR PROVIDING OF ANY SERVICE BY A UNIT ESTABLISHED IN A SEZX X X X Extracts X X X X X X X X Extracts X X X X ..... ECONOMIC ZONE MANUFACTURE OR PRODUCTION OF ARTICLE OR THINGS OR PROVIDING OF ANY SERVICE BY A UNIT ESTABLISHED IN A SPECIAL ECONOMIC ZONE 1. The provisions of this Schedule shall apply to the business specified herein below— (a) the business of developing a special economic zone; and (b) a unit established in a special economic zone engaged in the business of manufacture or pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llowable, under paragraph 4 in any financial year; and (c) the amounts referred to in sub-section (2) of section 33. 4. The amount of business expenditure referred to in paragraph 2 shall be the aggregate of the amount of— (a) operating expenditure referred to in section 35, incurred by the assessee; (b) finance charges referred to in section 36, incurred by the assessee; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the assessee has claimed and has been actually allowed the deduction in respect of depreciation under section 38, initial depreciation under section 39 and terminal allowance under section 40. 7. The amount of common costs (including depreciation) attributable to the specified business shall be determined in such manner as may be prescribed. 8. The provisions of this Schedule shall apply ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n on account of depreciation in respect of the machinery or plant has been allowed or is allowable under the provisions of this Code, or the Income-tax Act, 1961 as it stood before the commencement of this Code, in computing the total income of any person for any period prior to the date of the installation of the machinery or plant by the assessee; (b) the condition specified in clause (b) o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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