Section 42(2)(b) in The Income Tax Act, 1961

[Cites 0, Cited by 2] [Section 42(2)] [Section 42] [Entire Act]

Union of India - Subsection

Section 42(2)(b) in The Income Tax Act, 1961

(b)exceed the amount of the expenditure incurred remaining unallowed, so much of the excess as does not exceed the difference between the expenditure incurred in connection with the business or to obtain interest therein and the amount of such expenditure remaining unallowed, shall be chargeable to income-tax as profits and gains of the business in the previous year in which the business or interest therein, whether wholly or partly, had been transferred:

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Union of India - Subsection

Section 42(2)(b) in The Income Tax Act, 1961