https://www.taxtmi.com/acts?id=49374 Where an assessee-owned building, machinery, plant or furniture on which depreciation was claimed is sold, discarded, demolished or destroyed, and the moneys payable together with scrap value exceed the written down value, the excess, to the extent it does not exceed the difference between actual cost and written down value, is chargeable to income-tax as income of the business of the previous year in which the moneys became due. en-us Thu, 20 Feb 2025 16:41:32 +0530 Thu, 20 Feb 2025 16:41:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49374 Where an assessee-owned building, machinery, plant or furniture on which depreciation was claimed is sold, discarded, demolished or destroyed, and the moneys payable together with scrap value exceed the written down value, the excess, to the extent it does not exceed the difference between actual cost and written down value, is chargeable to income-tax as income of the business of the previous year in which the moneys became due. Act-Rules F. Acts / Amendment Acts Thu, 20 Feb 2025 16:41:32 +0530 https://www.taxtmi.com/acts?id=49374