Sec 35ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 June 2012
Dear sir/madam,
Please clarify me about the term 'SPLIT UP' in the section 35AD .Please explain me by giving an example.
Regards,
Shivateja
Dear sir/madam,
Please clarify me about the term 'SPLIT UP' in the section 35AD .Please explain me by giving an example.
Regards,
Shivateja
CA PARAS BAFNA
(Expert)
23 June 2012
Split Up has got a general meaning which indicates division of a business which is already in existence.
.
Suppose X ltd is engaged in a variety of activities. One of them is a Specified Business.
.
X ltd will not be entitled to claim capital expenditure (which had already been incurred by it at an earlier stage) in respect to the Specified Business Activity.
even if the Specified Activity Business is separated from the other Activities.
.
.
Suppose X ltd is engaged in a variety of activities. One of them is a Specified Business.
.
X ltd will not be entitled to claim capital expenditure (which had already been incurred by it at an earlier stage) in respect to the Specified Business Activity.
even if the Specified Activity Business is separated from the other Activities.
.
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