Section 80J(4)(iv)(c) in The Income- Tax Act, 1995

Central Government Act

(c) no deduction on account of depreciation in respect of such machinery or plant has been allowed or is allowable under the provisions of the Indian Income- tax Act, 1922 (11 of 1922 ), or this Act in computing the total income of any person for any period prior to the date of the installation of the machinery or plant by the assessee. Explanation 2.- Where in the case of an industrial undertaking, any machinery or plant or any part thereof previously used for any purpose is transferred to a new business and the total value of the machinery or plant

1. Substituted for" twenty- eight" by the Finance Act, 1975, w. e. f. 1- 4- 1975 which was earlier substituted for" twenty- three" by the Finance Act, 1969, w. e. f 14- 1969.

2. Inserted by the Finance Act, 1975, w. e. f. 1- 4- 1976.

3. Inserted by the Finance Act, 1979, w. e. f. 1- 4- 1979.

4. Inserted by the Finance Act, 1975 ,, w. e. f. 1- 4- 1976.

or part so transferred does not exceed twenty per cent of the total value of the machinery or plant used in the business, then, for the purposes of clause (ii) of this sub- section, the condition specified therein shall be deemed to have been complied with and the total value of machinery or plant or part so transferred shall not be taken into account in computing the capital employed in the industrial undertaking.]