TMI BlogSECTION 43 - Definitions of certain terms relevant to income from PGBPX X X X Extracts X X X X X X X X Extracts X X X X ..... . Provided actual cost of the motor acquired by the assessee is uded otherwise than in a business running it on hire for tourist, exceeds 25000/-, then excess of such cost shall be ignored and the actual cost shall be 25000/- Provided further where any expenditure is incurred by the assessee for acquisition of any asset in respect of which payment is made in a day, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 018 w.e.f. 1st day of April, 2019]. Provided that where any capital asset on which deduction u/s 35AD is allowed, is deemed to be the income of the assessee u/s 35AD(7B), then the actual cost of such asset shall be the actual cost to the aseessee as reduced by the amount of deprecialtion at the rate that would have been applied if the asset had been used for the purpose of business since ..... X X X X Extracts X X X X X X X X Extracts X X X X
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