(5)In making the computation aforesaid, the following sums shall not be deducted:-[* * *] [ Clause (a) omitted by Act 53 of 2000, Section 160 (w.e.f. 13.12.2000).](b)income-tax and super-tax payable by the company under the Indian [Income-tax Act, 1922 (11 of 1922)] [ Now see the Income-tax Act, 1961.], or any other tax on the income of the company not falling under clauses (d) and (e) of sub-section (4);(c)any compensation, damages or payments made voluntarily, that is to say otherwise than in virtue of a liability such as is referred to in clause (m) of sub-section (4);(d)[ loss of a capital nature including loss on sale of the undertaking or any of the undertakings of the company or of any part thereof not including any excess referred to in the proviso to section 350 of the written-down value of any asset which is sold, discarded, demolished or destroyed over its sale proceeds or its scrap value.] [ Inserted by Act 65 of 1960, Section 127 (w.e.f. 28.12.1960).]
