this notification will not apply in relation to any income being profits and gains of business, unless the business is incidental to the attainment of the objectives of the assessee and separate books of accounts are maintained in respect of such business
this notification will not apply in relation to any income being profits and gains of business, unless the business is incidental to the attainment of the objectives of the assessee and separate books of accounts are maintained in respect of such business
It may be mentioned that the amending notification does not in any way alter the scope of the existing notification and is only in the nature of correction of spelling. The benefit of conecessional rate of duties as applicable, may not be denied on this account and pending cases, if any, may be disposed off accordingly.
The exemption contained in these notifications is applicable either to the new industrial units or units undertaking substantial expansion by way of increase in installed capacity by not less than 25%.
