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[Cites 0, Cited by 0] [Section 54(5)] [Section 54] [Entire Act]

Union of India - Subsection

Section 54(5)(b) in The Income Tax Act, 2025

(b)where A is greater than C,––
(i)but less than B, then (A-C) shall be the profit chargeable under the head "Profits and gains of business or profession" for the tax year in which such transfer takes place;
(ii)in any other case, only (B-C) shall be the profit chargeable under the said head for the tax year in which such transfer takes place; and
(iii)no deduction shall be allowed for the expenditure incurred remaining unallowed in the tax year in which such transfer takes place or any subsequent tax year,where,––A = proceeds of the transfer (so far as they consist of capital sums);B = total amount of expenditure incurred in connection with the business or to obtain interest therein;C = amount of expenditure incurred remaining unallowed.