Friday, March 11, 2011

Finance Act 2010 - Sec35AD - Change in Condition of "Specified Business"


Amendment in Condition for Specified Business No.3
– must have made available the PRESCRIBED CAPACITY for USE on COMMON CARRIER BASIS any person otherthan assessee or its associated person. PRESCRIBED CAPACITY by Regulations of Petroleum & Natural Gas Regulatory Board is –
1.atleast One-third for Natural Gas
2.atleast One-fourth for Petroleum Product

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