https://www.taxtmi.com/manuals?id=1144 Gain on sale of an asset acquired for scientific research is taxed where the asset was not used for other purposes and the sale proceeds, together with the capital expenditure deduction already allowed, exceed the actual cost to the extent of the deduction claimed. After discontinuance of business, unabsorbed business loss of the year in which business ceased may be set off only against such income, excluding speculation loss and only to the extent of the taxable income. Scientific research includes activity for extension of knowledge and related business or medical research. en-us Tue, 15 Sep 2015 11:29:00 +0530 Mon, 04 May 2026 13:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1144 Gain on sale of an asset acquired for scientific research is taxed where the asset was not used for other purposes and the sale proceeds, together with the capital expenditure deduction already allowed, exceed the actual cost to the extent of the deduction claimed. After discontinuance of business, unabsorbed business loss of the year in which business ceased may be set off only against such income, excluding speculation loss and only to the extent of the taxable income. Scientific research includes activity for extension of knowledge and related business or medical research. Manuals Income Tax Tue, 15 Sep 2015 11:29:00 +0530 https://www.taxtmi.com/manuals?id=1144