Investment in new plant or machinery.

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....the 1st day of April, 2015 and the aggregate amount of actual cost of such new assets exceeds one hundred crore rupees, then, there shall be allowed a deduction,- (a) for the assessment year commencing on the 1st day of April, 2014, of a sum equal to fifteen per cent of the actual cost of new assets acquired and installed after the 31st day of March, 2013 but before the 1st day of April, ....

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....duction of a sum equal to fifteen per cent. of the actual cost of such new assets for the assessment year relevant to that previous year: ^5[Provided that where the installation of the new assets are in a year other than the year of acquisition, the deduction under this sub-section shall be allowed in the year in which the new assets are installed.] ^6[Provided further that] no deduction und....

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....evious year in which such new asset is sold or otherwise transferred, in addition to taxability of gains, arising on account of transfer of such new asset. (3) Where the new asset is sold or otherwise transferred in connection with the amalgamation or demerger within a period of five years from the date of its installation, the provisions of sub-section (2) shall apply to the amalgamated compan....

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....eciation or otherwise) in computing the income chargeable under the head "Profits and gains of business or profession" of any previous year.]     ****************** NOTES:- 1.  Inserted vide Section 6 of the Finance Act, 2013 w.e.f. 01-04-2014 2.  Inserted vide Section 11 of the Finance (No. 2) Act, 2014 w.e.f. 01-04-2015 3.  ....