Where an asset used for scientific research for more than three years is sold without having being used for other purposes, then the sale proceeds to the extent of the cost of the asset already allowed- as deduction u/s 35 in the past shall be treated as-
A. Business Income
B. Long Term Capital Gain
C. Short-term Capital Gain
D. Exempted Income
Answer:A
Where an asset used for scientific research for more than three years is sold without having being used for other purposes, then the sale proceeds to the extent of the cost of the asset already allowed- as deduction u/s 35 in the past shall be treated as-
A. Business Income B. Long Term Capital Gain C. Short-term Capital Gain D. Exempted Income