Deduction for capital expenditure allowed for specified businesses, subject to eligibility, non-duplication and commencement conditions and prescribed approvals. An assessee may deduct whole capital expenditure wholly and exclusively incurred for a specified business, allowable in the year incurred or, if capitalised before commencement, in the year operations commence; specified businesses include cold chain facilities, agricultural warehousing and cross country pipeline networks. Eligibility excludes setups from splitting or transfer of previously used plant unless prescribed exceptions apply; deduction is barred under Chapter VIA and cannot be claimed more than once. Commencement-date conditions, transitional pipeline deductions, and definitions of associated persons, cold chain, and excluded items like land and goodwill are prescribed.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deduction for capital expenditure allowed for specified businesses, subject to eligibility, non-duplication and commencement conditions and prescribed approvals.
An assessee may deduct whole capital expenditure wholly and exclusively incurred for a specified business, allowable in the year incurred or, if capitalised before commencement, in the year operations commence; specified businesses include cold chain facilities, agricultural warehousing and cross country pipeline networks. Eligibility excludes setups from splitting or transfer of previously used plant unless prescribed exceptions apply; deduction is barred under Chapter VIA and cannot be claimed more than once. Commencement-date conditions, transitional pipeline deductions, and definitions of associated persons, cold chain, and excluded items like land and goodwill are prescribed.
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