https://www.taxtmi.com/acts?id=3552 Site Restoration Fund allows an assessee in petroleum or natural gas operations under a government agreement to deduct deposits made to an approved special account or Site Restoration Account, limited to deposits or twenty percent of business profits, subject to audit report filing; deposits include interest. Withdrawals are restricted to scheme purposes; unused or withdrawn amounts and recaptured portions on early asset disposal are deemed business income. Certain expenditures and specified asset acquisitions are excluded from qualifying utilisation, and the Central Government may discontinue the deduction by notification. en-us Sat, 19 Jan 2008 22:45:54 +0530 Wed, 27 Aug 2025 12:53:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3552 Site Restoration Fund allows an assessee in petroleum or natural gas operations under a government agreement to deduct deposits made to an approved special account or Site Restoration Account, limited to deposits or twenty percent of business profits, subject to audit report filing; deposits include interest. Withdrawals are restricted to scheme purposes; unused or withdrawn amounts and recaptured portions on early asset disposal are deemed business income. Certain expenditures and specified asset acquisitions are excluded from qualifying utilisation, and the Central Government may discontinue the deduction by notification. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3552