THE THIRTEENTH SCHEDULE - COMPUTATION OF PROFITS OF A SPECIFIED BUSINESS

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.... other than the excluded area;      (d) business of processing, preservation and packaging of fruits and vegetables.      (e) business of laying and operating a cross country natural gas or crude or petroleum oil pipeline network for distribution, including storage facilities being an integral part of the network;      (f) business of setting up and operating a cold chain facility; and      (g) business of setting up and operating a warehousing facility for storage of agricultural produce. 2. The profits of every specified business shall be computed separately under this Schedule. 3. The profits of any specified business shall be the gross inco....

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.... clauses (a) to (e) incurred before commencement of the business;      (g) the amount of negative profit computed under this Schedule for any financial year immediately preceeding the relevant financial year. 6. The profits of the specified business shall be treated as 'nil' if the profits determined under rule 1 is negative. 7. The profits computed under rule 1 shall be presumed to have been computed,-      (a) after giving full effect to every loss, allowance or deduction referred to in subsections (1) to (3) of section 33, sub-section (1) of section 34 and sections 35 to section 38;      (b) after giving full effect to any deduction allowable under sub-chapter-I o....

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.... the financial year. 12. The provisions of this Schedule shall apply to the business referred to in rule 1, which fulfills all the following conditions, namely:-      (a) it is not set up by splitting up, or the reconstruction, of a business already in existence;      (b) it is not set up by the transfer to the specified business of machinery or plant previously used of any purpose; and      (c) in a case where the business is of the nature referred to in clause (e) of sub-rule 1, the business,-          (i) is owned by a company formed and registered in India under the Companies Act, 1956 or by a consortium of such companies o....

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.... board of the assessee; or          (iv) who guarantees not less than ten per cent. of the total borrowings of the assessee;      (b) any machinery or plant which was used outside India by any person other than the assessee shall not be regarded as machinery or plant previously used for any purpose, if-          (i) the machinery or plant was not, at any time prior to the date of the installation by the assessee, used in India;          (ii) the machinery or plant is imported into India from any country outside India; and          (iii) no deduction....