(3)In making the computation aforesaid, credit shall not be given for the following sums, namely:—(a)profits, by way of premium on shares or debentures of the company, which are issued or sold by the company;(b)profits on sales by the company of forfeited shares;(c)profits of a capital nature including profits from the sale of the undertaking or any of the undertakings of the company or of any part thereof;(d)profits from the sale of any immovable property or fixed assets of a capital nature comprised in the undertaking or any of the undertakings of the company, unless the business of the company consists, whether wholly or partly, of buying and selling any such property or assets:Provided that where the amount for which any fixed asset is sold exceeds the written-down value thereof, credit shall be given for so much of the excess as is not higher than the difference between the original cost of that fixed asset and its written-down value;(e)any change in carrying amount of an asset or of a liability recognised in equity reserves including surplus in profit and loss account on measurement of the asset or the liability at fair value.
