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of <h1>Computational Framework for Taxable Income: Section 59 Integrates Asset Valuation and Income Calculation Principles</h1> Section 59 of the Income Tax Act, 1961 addresses profits chargeable to tax under the 'Income from other sources' category. The provision applies section 41's computational principles to section 56, specifically relating to how income is calculated when assets are sold, discarded, demolished, or destroyed. The section ensures consistent tax treatment across different income categories by adopting similar computational methodologies for determining taxable profits.
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