Section 32(1)(D) in The Income Tax Act, 1961

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Union of India - Subsection

Section 32(1)(D) in The Income Tax Act, 1961

(D)any machinery or plant, the whole of the actual cost of which is allowed as a deduction (whether by way of depreciation or otherwise) in computing the income chargeable under the head "Profits and gains of business or profession" of any one previous year;

(iii)in the case of any building, machinery, plant or furniture in respect of which depreciation is claimed and allowed under clause (i) and which is sold, discarded, demolished or destroyed in the previous year (other than the previous year in which it is first brought into use), the amount by which the moneys payable in respect of such building, machinery, plant or furniture, together with the amount of scrap value, if any, fall short of the written down value thereof :

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Union of India - Subsection

Section 32(1)(D) in The Income Tax Act, 1961