Section 35ABB of the Income Tax Act, 1961 provides for deductions for certain capital expenditures incurred for business of growing and maintaining a specified variety of trees.

An assessee who is engaged in the business of growing and maintaining a forest or any other specified variety of trees can claim the deduction.

The specified varieties of trees for the purpose of Section 35ABB include trees grown on a commercial scale for timber or other forest products, or for afforestation, and any other plant or tree that the Central Government may notify for this section.

The deduction available under Section 35ABB is equal to 100% of the capital expenditure incurred by the assessee for the purpose of growing and maintaining the specified variety of trees, subject to certain conditions. The deduction is available for a period of 10 years, starting from the year in which the specified variety of trees are planted.

It is important to note that the deduction under Section 35ABB can be claimed only by an assessee who is engaged in the business of growing and maintaining a forest or any other specified variety of trees, and not by individuals who are engaged in activities such as gardening or horticulture.