COMPUTATION OF PROFITS OF THE BUSINESS OF MINERAL OIL OR NATURAL GAS

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....als or receipts derived by the assessee from,—        (i) the business of mineral oil or natural gas;        (ii) the leasing or transfer of whole of, or part of, or any interest in, any—          (A) mineral oil or natural gas rights; and          (B) asset used in the business of mineral oil or natural gas; and       (iii) the demolition, destruction, discarding or transferring of any business capital asset (other than land, goodwill or financial instrument) in respect of which deduction has been allowed, or allowable, under paragraph 3 in any financial year....

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....as been actually allowed the deduction in respect of depreciation under section 38, initial depreciation under section 39 and terminal allowance under section 40. 6. The amount of common costs including depreciation attributable to the business of mineral oil or natural gas and any other business shall be determined in such manner as may be prescribed. 7. The provisions of this Schedule shall apply to the business referred to in paragraph 1, which fulfils the following conditions, namely:—    (a) it is not set-up by splitting up, or the reconstruction, of a business already in existence;    (b) it is not set up by the transfer to the business of machinery or plant previously used for any purpose. 8. In t....