TaxTMI 
TaxTMI 
Capital expenditure of specified business.
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....h business is commenced. (3) This section shall apply to the specified business fulfilling the following conditions:- (a) it is not set up by splitting up, or the reconstruction, of an already existing business; (b) it is not set up by the transfer of machinery or plant previously used for any purpose to the specified business; (c) if the business is of the nature referred to in sub-section (11)(d)(iii) and such business- (i) is owned by a company formed and registered in India under the Companies Act, 2013 (18 of 2013) or by a consortium of such companies or by an authority or a board or a corporation established or constituted under any Central Act or State Act; (ii) has been approved by the....
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....ction in respect of the expenditure referred to in sub-section (1) shall be allowed to the assessee under any other section in any tax year or under this section in any other tax year, if the deduction has been claimed and allowed to him under this section. (6) The provisions of this section shall apply to the specified business referred to in column B of the Table below if it commences its operations as specified in column C thereof. Table Sl.No. Nature of specified business Date of commencement of operations being on or after A B C 1. Laying and operating a crosscountry natural gas pipeline network for distribution, including storage facilities being an integral part of such network. 1st April, 2007. 2.....
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.... Developing, or operating and maintaining, or developing, operating and maintaining, any infrastructure facility. 1st April, 2017. 13. In all other cases. 1st April, 2009. (7) Where the assessee builds a hotel of two star or above category as classified by the Central Government and subsequently, transfers the hotel operation thereof to another person while retaining its ownership, the assessee shall be deemed to be carrying on the specified business referred to in sub-section (11)(d)(iv). (8) The provisions contained in sections 122 (6) and 138 (18) and (23) shall, so far as may be, apply to this section in respect of goods or services or assets held for the purposes of the specified business. (9) Any asset for which....
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....ore than half of the board of directors or members of the governing board, or one or more executive directors or executive members of the governing board of the assessee; or (iv) who guarantees at least 10% of the total borrowings of the assessee; (b) "cold chain facility" means a chain of facilities for storage or transportation of agricultural and forest produce, meat and meat products, poultry, marine and dairy products, products of horticulture, floriculture and apiculture and processed food items under scientifically controlled conditions including refrigeration and other facilities necessary for the preservation of such produce; (c) "infrastructure facility" shall have the meaning assigned to it in the Expla....
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....e of sugar; (xii) laying and operating a slurry pipeline for the transportation of iron ore; (xiii) setting up and operating a semiconductor wafer fabrication manufacturing unit as per the guidelines notified by the Board; (xiv) developing, or maintaining and operating, or developing, maintaining and operating, a new infrastructure facility; (e) 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) such machinery or plant was not, at any time before the date of the installation by the assessee, used in India; (ii) such machinery or plant is imported into India; and ....