Section - 35AD - Deduction in respect of expenditure on specified business
Deduction in respect of expenditure on specified business.35AD. (1) An assessee shall, if he opts, be allowed a deduction in respect of the whole of any expenditure of capital nature incurred, wholly and exclusively, for the purposes of any specified business carried on by him during the previous year in which such expenditure is incurred by him :Provided that the expenditure incurred, wholly and exclusively, for the purposes of any specified business, shall be allowed as deduction during the previous year in which he commences operations of his specified business, if-
(a)
-
the expenditure is incurred prior to the commencement of its operations; and
(b)
-
the amount is capitalised in the books of account of the assessee on the date of commencement of its operations.
(1A) [***](2) This section applies to the specified business which fulfils all the following conditions, namely :-
(i)
-
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