(2)The provisions of sub-section (1) shall apply subject to fulfilment of the following conditions:—(a)in respect of sub-section (1)(a), only when an allowance or deduction has been made in assessment for any tax year towards the trading liability, loss or expenditure incurred;(b)in respect of sub-section (1)(b), only when the asset owned by the assessee, has been used for the purpose of business or profession, and depreciation has been claimed and allowed thereon under section 33(2);(c)in respect of sub-section (1)(c), only when the asset has not been used for other purposes.
