Concessional tax computation limited by eligibility rules, asset provenance constraints, and AO power to recharacterise excess profits.

Clause 205 sets that, for specified concessional provisions, total income must be computed without certain listed deductions or exemptions, conditions eligibility on the origin and nature of the business and on limits for previously used plant, and empowers the Board (with Central Government approval) to issue guidelines subject to parliamentary laying. The Assessing Officer may determine and attribute profits reasonably deemed in excess of ordinary profits where arrangements inflate returns, applying the arm's length principle for specified domestic transactions.

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