https://www.taxtmi.com/acts?id=51735 Section 205 requires that for certain assessment provisions total income be computed without deduction or exemption under specified provisions, and imposes eligibility conditions: no formation by splitting/reconstruction except limited re establishment cases; limits on use of previously used machinery or plant (20% value cap) and a permitted imported machinery carve out; prohibition for domestic companies on using buildings previously claiming specified hotel/convention centre deductions; and restriction of business to manufacture/production (including electricity) with listed exclusions. The Assessing Officer may make arm's length adjustments for connected transactions, and Board guidelines (Central Government approved) are subject to Parliamentary oversight. en-us Thu, 14 Aug 2025 11:32:08 +0530 Sat, 31 Jan 2026 12:16:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51735 Section 205 requires that for certain assessment provisions total income be computed without deduction or exemption under specified provisions, and imposes eligibility conditions: no formation by splitting/reconstruction except limited re establishment cases; limits on use of previously used machinery or plant (20% value cap) and a permitted imported machinery carve out; prohibition for domestic companies on using buildings previously claiming specified hotel/convention centre deductions; and restriction of business to manufacture/production (including electricity) with listed exclusions. The Assessing Officer may make arm's length adjustments for connected transactions, and Board guidelines (Central Government approved) are subject to Parliamentary oversight. Act-Rules Income Tax Thu, 14 Aug 2025 11:32:08 +0530 https://www.taxtmi.com/acts?id=51735