Deduction for biological production expanded to include bio fertilizers and grants full-profit deduction for a consecutive five-year period. Amendment expands qualifying activities to include production of bio-fertilizers, bio-pesticides and other biological agents and substitutes the prior capped deduction with a deduction equal to the whole of such profits and gains for a period of five consecutive assessment years beginning with the assessment year relevant to the previous year in which the business commences.
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 biological production expanded to include bio fertilizers and grants full-profit deduction for a consecutive five-year period.
Amendment expands qualifying activities to include production of bio-fertilizers, bio-pesticides and other biological agents and substitutes the prior capped deduction with a deduction equal to the whole of such profits and gains for a period of five consecutive assessment years beginning with the assessment year relevant to the previous year in which the business commences.
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