Section 10AA(2)(a) in The Income Tax Act, 1961

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Union of India - Subsection

Section 10AA(2)(a) in The Income Tax Act, 1961

(a)the amount credited to the Special Economic Zone Re-investment Reserve Account is to be utilised-

(i)for the purposes of acquiring machinery or plant which is first put to use before the expiry of a period of three years following the previous year in which the reserve was created; and

(ii)until the acquisition of the machinery or plant as aforesaid, for the purposes of the business of the undertaking other than for distribution by way of dividends or profits or for remittance outside India as profits or for the creation of any asset outside India;

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Union of India - Subsection

Section 10AA(2)(a) in The Income Tax Act, 1961