Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Investment in new plant or machinery deduction for qualifying manufacturing companies subject to time bound thresholds and recapture on early transfer. Section 32AC permits a fifteen percent investment deduction for companies in manufacturing where acquisition and installation of qualifying new plant or machinery exceed prescribed aggregate thresholds, allocated to specified assessment years and subject to timing rules; if such an asset is transferred within five years of installation (except on permitted amalgamation or demerger), the earlier deduction is recaptured as income in the year of transfer in addition to any transfer gains, and the section specifies exclusions from the definition of new asset.
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.
Investment in new plant or machinery deduction for qualifying manufacturing companies subject to time bound thresholds and recapture on early transfer.
Section 32AC permits a fifteen percent investment deduction for companies in manufacturing where acquisition and installation of qualifying new plant or machinery exceed prescribed aggregate thresholds, allocated to specified assessment years and subject to timing rules; if such an asset is transferred within five years of installation (except on permitted amalgamation or demerger), the earlier deduction is recaptured as income in the year of transfer in addition to any transfer gains, and the section specifies exclusions from the definition of new asset.
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