If assessee claim deduction u/s 35AD in first year and have b/f loss from it.
In next year also business have huge capital investment.
Then can assessee claim 100% deduction in subsequent years also or deduction is allowed in first year only.
If assessee claim deduction u/s 35AD in first year and have b/f loss from it.
In next year also business have huge capital investment.
Then can assessee claim 100% deduction in subsequent years also or deduction is allowed in first year only.
Please read the proviso fully.
The proviso to Section 35AD(1) says that
The deduction in respect of capital expenditure on specified business is allowed in the year of commencement of operation when the expenditure is incurred proior to commencement of operation of business OR the expenditure is capitalised in the books as on the date of commencement of operation.
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