THE TWELVETH SCHEDULE - COMPUTATION OF PROFITS OF THE BUSINESS OF DEVELOPING A SPECIAL ECONOMIC ZONE

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....e year. 3. The gross income referred to in rule 1 shall be the aggregate of,-      (a) the accruals or receipts derived by the assessee from the business;      (b) the accruals or receipts derived by the assessee from the demolition, destruction, discarding or transferring of any business captial asset (other than land, goodwill or financial instrument) in respect of which deduction has been allowed, or allowable, under sub-rule 4 in any financial year; and      (c) the amounts referred to in sub-section (2) of section 31. 4. The amount of business expenditure referred to in rule 1 shall be the aggregate of the amount of,-      (a) operating ex....

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....mic zone shall be computed as if the assessee has claimed and has been actually allowed the deduction in respect of depreciation under section 36, initial depreciation under section 37 and terminal allowance under section 38. 8. The amount of common costs (including depreciation) attributable to the business of developing a special economic zone shall be determined in the prescribed manner. 9. The successor in a business reorganisation of the business of developing a special economic zone shall be allowed a deduction in respect of the negative profit determined in the case of the predecessor for,-      (a) the financial year immediately preceeding the financial year in which the business reorganisation has taken....