Special provisions in respect of certain undertakings in North-Eastern States.

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....s section applies, from any business referred to in sub-section (2), there shall be allowed, in computing the total income of the assessee, a deduction of an amount equal to 100% of the profits and gains derived from such business for ten consecutive tax years commencing with the initial tax year. (2) This section applies to any undertaking which during the period beginning on the 1st April, 20....

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.... it is not formed by the transfer to a new business of machinery or plant previously used for any purpose. (4) For the purposes of sub-section (3)(b), the provisions of section 140(5) and (6) shall apply. (5) Irrespective of anything contained in any other provision of this Act, in computing the total income of the assessee, no deduction shall be allowed under any other section contained in ....

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.... to tobacco and manufactured tobacco substitutes; (ii) pan masala as covered under Chapter 21 of the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986); (iii) plastic carry bags of less than twenty microns as specified by the Ministry of Environment and Forests vide notification numbers S.O. 705(E), dated the 2nd September, 1999 and S.O. 698(E), dated the 17th June....

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....ining centre; (vii) manufacturing of information technology hardware; and (viii) bio-technology; (c) "initial tax year" means the tax year in which the undertaking begins to manufacture or produce articles or things, or completes substantial expansion; (d) "North-Eastern States" means the States of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland,....