Profit on transfer of capital asset computed as consideration less written down value and cost; negative result treated as nil.

Profit on transfer of a business capital asset is computed as the amount accrued or received for the asset (including scrap value) less the written down value (either of the block at the start of the year or of the asset) and less the actual cost of any asset in that block acquired during the financial year; where the net result is negative, the profit is treated as nil.

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