Where an asset used for scientific research for more than three years is sold without having been used for other purposes, then the sale proceeds to the extent of the cost of the asset already allowed as deduction under section 35 in the past 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 been used for other purposes, then the sale proceeds to the extent of the cost of the asset already allowed as deduction under section 35 in the past be treated as
A. Business income B. Long-term capital gain C. Short-term capital gain D. Exempted income