https://www.taxtmi.com/acts?id=46835 Amendment to section 280ZA redefines capital assets arising from transfers related to shifting an industrial undertaking from an urban area to include machinery, plant, buildings, lands and rights in them, and specifies expenditure categories for the shifted area: purchase of new machinery or plant, acquisition or construction of land or buildings, and costs of shifting machinery. It further provides that where such assets are transferred by the company within five years from purchase, acquisition or completion of construction, the transfer provision applies. en-us Tue, 31 Dec 2024 17:11:36 +0530 Tue, 31 Dec 2024 17:11:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=46835 Amendment to section 280ZA redefines capital assets arising from transfers related to shifting an industrial undertaking from an urban area to include machinery, plant, buildings, lands and rights in them, and specifies expenditure categories for the shifted area: purchase of new machinery or plant, acquisition or construction of land or buildings, and costs of shifting machinery. It further provides that where such assets are transferred by the company within five years from purchase, acquisition or completion of construction, the transfer provision applies. Act-Rules F. Acts / Amendment Acts Tue, 31 Dec 2024 17:11:36 +0530 https://www.taxtmi.com/acts?id=46835