Indian Kanoon - Search engine for Indian Law

Section 13 in The Finance Act, 2017 13. Amendment of section 35AD. - In section 35AD of the Income-tax Act, in sub-section

respect of which deduction or part of deduction allowed under section 35AD is deemed to be the income of the assessee in accordance with

erred in sustaining the disallowance of the claim of deduction under section 35AD(5)(aa) of the Income ... making disallowance of ₹.78,17,85,770/- under section 35AD(5)(aa) of the Act being expenses incurred in creating and establishing the eligible asset

District Shri Ganganagar 14. Chandra Kala W/o Subhash Chandra, R/o 35AD, Masaniwala, Panchayat 35AD, Tehsil Vijay Nagar, District Shri Ganganagar 15. Sushil Kumar ... Kumar, R/o 35AD Masaniwala, Panchayat 35AD, Tehsil Vijay Nagar, District Shri Ganganagar 16. Prem Kumar S/o Chandu Ram, R/o 50GB, Panchayat

competent authority, shall be taken to be nil.". 13. Amendment of section 35AD. - In section 35AD of the Income-tax Act, in sub-section ... respect of which deduction or part of deduction allowed under section 35AD is deemed to be the income of the assessee in accordance with

under section 10AA29[; and] 29 [(iii) deduction claimed, if any, under section 35AD as reduced by the amount of depreciation allowable in accordance with ... provisions of section 32 as if no deduction under section 35AD was allowed in respect of the assets on which the deduction under that section

expenditure has been allowed or is allowable as a deduction under section 35AD , Nil; and (c) in the case of other assets I the book

business referred to in clause (c) of sub-section (8) of section 35AD for any assessment year, no deduction shall be allowed under the provisions ... section 35AD in relation to such specified business for the same or any other assessment year.}." 80AB - [ Deductions to be made with reference

Section 35AC deals with expenditure on eligible projects or schemes and section 35AD deals with deduction in respect of expenditure on specified business. We have