https://www.taxtmi.com/acts?id=49036 Certain sums are deemed to be profits and gains of business or profession where earlier allowances or deductions are reversed or where asset realisations exceed written down value. Inclusions include remission or cessation of trading liabilities or amounts obtained in respect of previously deducted losses, excess on sale or disposal of tangible assets over written down value, proceeds from sale of unused capital research assets exceeding capital expenditure, recoveries of bad debts previously deducted, and withdrawals from previously allowed special reserves. Conditions require prior allowance, business use and claimed depreciation, and non repurposing of research assets. en-us Fri, 14 Feb 2025 16:20:56 +0530 Thu, 20 Feb 2025 17:25:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49036 Certain sums are deemed to be profits and gains of business or profession where earlier allowances or deductions are reversed or where asset realisations exceed written down value. Inclusions include remission or cessation of trading liabilities or amounts obtained in respect of previously deducted losses, excess on sale or disposal of tangible assets over written down value, proceeds from sale of unused capital research assets exceeding capital expenditure, recoveries of bad debts previously deducted, and withdrawals from previously allowed special reserves. Conditions require prior allowance, business use and claimed depreciation, and non repurposing of research assets. Act-Rules Bills Fri, 14 Feb 2025 16:20:56 +0530 https://www.taxtmi.com/acts?id=49036