Enhanced deduction for eligible specified businesses; scope expanded to include bee-keeping, inland container depots and sugar warehousing. Amendments to section 35AD broaden eligible specified businesses and allow an enhanced deduction of one and one-half times qualifying expenditure for certain newly enumerated businesses commencing operations on or after 1 April, 2012. The eligible activities explicitly added include inland container depots and container freight stations, bee-keeping and honey and beeswax production, and warehousing for sugar; cross-reference language is adjusted accordingly. A deemed provision effective from 1 April, 2011 treats owners who build hotels and subsequently transfer hotel operations as carrying on the specified business for the relevant clause.
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Provisions expressly mentioned in the judgment/order text.
Enhanced deduction for eligible specified businesses; scope expanded to include bee-keeping, inland container depots and sugar warehousing.
Amendments to section 35AD broaden eligible specified businesses and allow an enhanced deduction of one and one-half times qualifying expenditure for certain newly enumerated businesses commencing operations on or after 1 April, 2012. The eligible activities explicitly added include inland container depots and container freight stations, bee-keeping and honey and beeswax production, and warehousing for sugar; cross-reference language is adjusted accordingly. A deemed provision effective from 1 April, 2011 treats owners who build hotels and subsequently transfer hotel operations as carrying on the specified business for the relevant clause.
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