Mr. XYZ , has a cold storage in pune named XYZ Pvt Ltd. He has set up anoher cold storage at another location . Can he set off the capital expenditure of the new unit against the new unit?
Thanks & Regards,
Devendra K
1 Replies
Vinay Raja
(student-IPCC)
(704 Points)
Replied 10 November 2011
yes
he can set off it in setoff of business loss from one business to another
he can claim 100% deduction except land buildings and financial instruments of 2nd branch and can set off or carry forward the loss as applicable
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