Section 80(14)(c) in Finance Act, 1999

[Cites 0, Cited by 0] [Section 80(14)] [Section 80] [Entire Act]

Union of India - Subsection

Section 80(14)(c) in Finance Act, 1999

(c)"initial assessment year"-

(i)in the case of an industrial undertaking or cold storage plant or ship or hotel, means the assessment year relevant to the previous year in which the industrial undertaking begins to manufacture or produce articles or things, or to operate its cold storage plant or plants or the cold chain facility or the ship is first brought into use or the business of the hotel starts functioning;

(ii)in the case of a company carrying on scientific and industrial research and development, means the assessment year relevant to the previous year in which the company is approved by the prescribed authority for the purposes of sub-section (8);

(iii)in the case of an undertaking engaged in the business of commercial production or refining of mineral oil referred to in sub-section (9), means the assessment year relevant to the previous year in which the undertaking commences the commercial production or refining of mineral oil;

Legal Document View

Unlock Advanced Research with PRISMAI

Union of India - Subsection

Section 80(14)(c) in Finance Act, 1999