Section 35ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 September 2015
Our company is a frozen food manufacturing company. We have built cold stores for storing FG and we have taken 150% deduction u/s. 35AD on cold stores. Since losses of specified business can be set off only against profits of specified business and cold stores are integral part of our company not a separate business, how can we show profits from cold stores to set off losses u/s. 35AD?
Amol S Joglekar
(Expert)
30 September 2015
How did you comply with the conditions of "specified business" in that case? Can you please clarify
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