Will the deeming provisions of section 35AD(7B) still apply
if an asset is used for a different business during 8 yrs...but that business is also a specified business u/s 35AD?
the words used are the specified business..
and I think the purpose of this section was to prevent transfer from specified to non specified...
so I think 35AD(7B) won't apply in case asset is used for other specified business
CAclubindia
