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profit prior to incorporation

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(Querist)
01 September 2010 weather profit prior to incorporation will be taxable? if yes under which head and section??
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
01 September 2010 under the head PGBP, in the year when business started.
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CA Shiv

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CA Shiv (Expert)
01 September 2010 What type of profit it is...
I think it will be from sale of asset or so, as the business is not started and so it is difficult for the business income...
So what profit it is about?
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