TaxTMI 
TaxTMI 
Amendment of section 35AD
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....Petroleum and Natural Gas Regulatory Board established under sub-section (1) of section 3 of the Petroleum and Natural Gas Regulatory Board Act, 2006"[ 19 of 2006] shall be substituted; (b) for sub-section (3), the following sub-section shall be substituted with effect from the 1st day of April, 2011, namely:— '(3) Where a deduction under this section is claimed and allowed in respect of the s....
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....e (a) and clause (aa)" shall be substituted; (d) in sub-section (8), in clause (c), after sub-clause (iii), the following sub-clause shall be inserted with effect from the 1st day of April, 2011, namely:—"(iv) building and operating, anywhere in India, a new hotel of two-star or above category as classified by the Central Government;". - Clause 10 of the Bill seeks to amend section 35AD of the....
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.... business should have made not less than one-third of its total pipeline capacity available for use on common carrier basis by any person other than the assessee or an associated person. Sub-clause (a) proposes to amend sub-clause (c) of clause (iii) of sub-section (2) of the aforesaid section 35AD so as to provide that the proportion of the total pipeline capacity to be made available for use on....
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....eduction shall be allowed under the provisions of Chapter VI-A under the heading "C.- Deductions in respect of certain incomes" in relation to such specified business for the same or any other assessment year. Sub-section (5) of the aforesaid section 35AD prescribes the conditions as regards the date of commencement of the specified business. Sub-clause (c) proposes to amend sub-secti....