https://www.taxtmi.com/acts?id=18639 Amendments to section 35AD preclude a specified business claiming the section 35AD deduction from claiming the deduction under section 10AA; add slurry pipeline transportation of iron ore and semiconductor wafer fabrication units (Board notified under guidelines) as specified businesses with commencement on or after 1 April 2014; require assets for which deductions are claimed to be used only for the specified business for eight years; provide recapture of deductions (reduced by depreciation) as business income if assets are diverted, with an exception for companies declared sick under the Sick Industrial Companies Act; effective 1 April 2015. en-us Fri, 11 Jul 2014 15:38:05 +0530 Fri, 11 Jul 2014 15:38:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=18639 Amendments to section 35AD preclude a specified business claiming the section 35AD deduction from claiming the deduction under section 10AA; add slurry pipeline transportation of iron ore and semiconductor wafer fabrication units (Board notified under guidelines) as specified businesses with commencement on or after 1 April 2014; require assets for which deductions are claimed to be used only for the specified business for eight years; provide recapture of deductions (reduced by depreciation) as business income if assets are diverted, with an exception for companies declared sick under the Sick Industrial Companies Act; effective 1 April 2015. Act-Rules Bills Fri, 11 Jul 2014 15:38:05 +0530 https://www.taxtmi.com/acts?id=18639