TMI BlogAmendment of section 35AD.X X X X Extracts X X X X X X X X Extracts X X X X ..... red to in sub-clause (i) or sub-clause (ii) or sub-clause (v) or sub-clause (vii) or sub-clause (viii) of clause (c) of sub-section (8) and has commenced its operations on or after the 1st day of April, 2012, the deduction under sub-section (1) shall be allowed of an amount equal to one and one-half times of the expenditure referred to therein. ; (b) in sub-section (5), with effec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gar; and ; (C) in clause (b), for the words, brackets and letters clause (a), clause (aa), clause (ab) and clause (ac) , the words any of the above clauses shall be substituted; (c) after sub-section (6), the following sub-section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2011, namely: (6A) Where the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty for storage of sugar; . - Clause 9 of the Bill seeks to amend section 35AD of the Income-tax Act relating to deduction in respect of expenditure on specified business. The provisions of sub-section (1) of the aforesaid section 35AD, inter alia, allow one hundred per cent. deduction in respect of any capital expenditure incurred, other than expenditure incurred on the acquisition of any l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... will, accordingly, apply in relation to the assessment year 2013-2014 and subsequent assessment years. It is further proposed to amend the provisions of sub-sections (5) and (8) of the aforesaid section to include three new categories of business as specified business, namely, - (i) setting up and operating an inland container depot or a container freight station notified or approved under t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n, the assessee shall be deemed to be carrying on the specified business of building and operating hotel. This amendment will take effect retrospectively from 1st April, 2011 and will, accordingly, apply in relation to the assessment year 2011-2012 and subsequent assessment years. - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management I ..... X X X X Extracts X X X X X X X X Extracts X X X X
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