06/02/2019
Sale of assets used for scientific research [Sea 41(3)] :-
Where any Capital asset used in scientific research is sold without having been used for other purposes and the sale proceeds, together with the amount of deduction allowed under section 35, exceeds the amount of the capital expenditure, such surplus or the amount of deduction allowed ,whichever is less, is chargeable to tax as business mcome in the year which the sale took place.
|
About the author
Admin
|
Print