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[Cites 0, Cited by 0] [Section 44(5)] [Section 44] [Entire Act]

Union of India - Subsection

Section 44(5)(b) in The Income Tax Act, 2025

(b)"capital employed in the business of the company" means—
(i)in cases under sub-section (1)(a), the aggregate of the issued share capital, debentures and long-term borrowings as on the last day of the tax year in which the business of the company commences;
(ii)in a case under sub-section (1)(b), the aggregate of the issued share capital, debentures and long-term borrowings as on the last day of the tax year in which the extension of the undertaking is completed or, as the case may be, the new unit commences production or operation, in so far as such capital, debentures and long-term borrowings have been issued or obtained in connection with the extension of the undertaking or the setting up of the new unit of the company;