deduction u/s 35

This query is : Resolved 

30 October 2009 a asset is purchased for scientific research &deduction of 100% on expenditure has been claimed u/s35 ,then it is brought in business added in block & sold .how will we treat it?

31 October 2009 Asset include in relevant block at nil value. When this asset is sold,deduct the money payable from the block in which such asset was earlier included.

31 October 2009 Iagree with mr CMA Arif.


31 October 2009 thanks



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