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Income tax exemption for cold storages

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 February 2013 Dear sir,

please clarify the following,

is the income derived from cold chain facilities exempt under any section at present.
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Mohit Naithani

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Mohit Naithani (Expert)
21 February 2013 NO, Business of cold chain facilities is came u/s 35AD of Income Tax Act 1961.

Income from such business is not exempt but allowing 100% deduction in respect of the whole of any expenditure of capital nature (other than on land, goodwill and financial instrument) incurred wholly and exclusively, for the purposes of the “specified business” during the previous year in which such expenditure is incurred.
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