Deduction in respect of profits and gains from business of hotels and convention centres in specified area

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.... per cent of the profits and gains derived from such business for five consecutive assessment years beginning from the initial assessment year. (2)  This section applies to any undertaking, (i)  engaged in the business of hotel located in the specified area, if such hotel is constructed and has started or starts functioning at any time during the period beginning on the 1^st day of April, 2007 and ending on ^4[the 31st day of July, 2010]; or (ii) engaged in the business of building, owning and operating a convention centre, located in the specified area, if such convention centre is constructed at any time during the period beginning on the 1^st day of April, 2007 and ending on ^5[the 31st day of July, 2010];&....

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.... income of the assessee, no deduction shall be allowed under any other section contained in Chapter VIA or section 10AA, in relation to the profits and gains of the undertaking. (5)  The provisions contained in sub-section (5) and sub-sections (8) to (11) of section 80-IA shall, so far as may be, apply to the eligible business under this section. (6) For the purposes of this section, (a) "convention centre" means a building of a prescribed area comprising of convention halls to be used for the purpose of holding conferences and seminars, being of such size and number and having such other facilities and amenities, as may be prescribed; (b) "hotel" means a hotel of two-star, three-star or four-star category as cl....