Section 205(5)(b) in The Income Tax Act, 2025

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Union of India - Subsection

Section 205(5)(b) in The Income Tax Act, 2025

(b)the expressions,––

(i)"hotel" and "convention centre" shall have the meanings respectively assigned to them in clause (b) and clause (a) of section 80-ID(6) of the Income-tax Act, 1961;

(ii)"permitted machinery and plant used outside India" means the machinery or plant, which was previously used outside India by any other person, if the following conditions are fulfilled:—

(A)such machinery or plant was not, at any time previous to the date of the installation, used in India;

(B)such machinery or plant is imported into India from any country outside India; and

(C)no deduction on account of depreciation in respect of such machinery or plant has been allowed or is allowable under the provisions of this Act in computing the total income of any person for any period before the date of installation of machinery or plant by the person;

(iii)"unabsorbed depreciation" shall have the meaning assigned to it in section 116(13)(e); and

(iv)"Unit" shall have the same meaning as assigned to it in section 2(zc) of the Special Economic Zones Act, 2005.

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Union of India - Subsection

Section 205(5)(b) in The Income Tax Act, 2025