https://www.taxtmi.com/article/detailed?id=1199 Section 35AD is amended to add affordable housing projects and fertilizer production to the definition of specified business, extending eligibility for 100% capital expenditure deduction to these activities (fertilizer limited to new plant or newly installed capacity). The definition of specified business is also amended to remove the requirement that hotels and hospitals be "new", enabling profits of existing hotels and hospitals to be set off against losses of other specified businesses under section 73A. Section 73A's restriction-losses of specified business only set off against profits of other specified businesses-remains, and the author argues this restriction should be omitted. en-us Wed, 09 Mar 2011 23:44:50 +0530 Wed, 09 Mar 2011 23:58:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1199 Section 35AD is amended to add affordable housing projects and fertilizer production to the definition of specified business, extending eligibility for 100% capital expenditure deduction to these activities (fertilizer limited to new plant or newly installed capacity). The definition of specified business is also amended to remove the requirement that hotels and hospitals be "new", enabling profits of existing hotels and hospitals to be set off against losses of other specified businesses under section 73A. Section 73A's restriction-losses of specified business only set off against profits of other specified businesses-remains, and the author argues this restriction should be omitted. Articles Income Tax Wed, 09 Mar 2011 23:44:50 +0530 https://www.taxtmi.com/article/detailed?id=1199