https://www.taxtmi.com/acts?id=17162 Section 32AC allows companies in manufacturing that acquire and install qualifying new plant or machinery within the specified window and whose aggregate cost exceeds the statutory threshold to claim a phased deduction of a fixed percentage of actual cost across two assessment years, with the second-year amount reduced by any first-year deduction. If a qualifying asset is transferred or sold within a limited period after installation, the earlier deduction is recaptured as business income, subject to special treatment on amalgamation or demerger; several categories of assets are expressly excluded from the definition of "new asset." en-us Fri, 01 Mar 2013 17:15:26 +0530 Sat, 02 Mar 2013 10:53:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17162 Section 32AC allows companies in manufacturing that acquire and install qualifying new plant or machinery within the specified window and whose aggregate cost exceeds the statutory threshold to claim a phased deduction of a fixed percentage of actual cost across two assessment years, with the second-year amount reduced by any first-year deduction. If a qualifying asset is transferred or sold within a limited period after installation, the earlier deduction is recaptured as business income, subject to special treatment on amalgamation or demerger; several categories of assets are expressly excluded from the definition of "new asset." Act-Rules Bills Fri, 01 Mar 2013 17:15:26 +0530 https://www.taxtmi.com/acts?id=17162