Rule 8AB of Income Tax Rules: Attribution of income taxable under under section 48
#rule #sec48 #taxableincome #capitalassets #specifiedentity The rule states that: (1) For the purposes of clause (iii) of section 48, where the amount is chargeable to income-tax as income of specified entity under sub-section (4) of section 45, the specified entity shall attribute such amount to capital asset remaining with the specified entity in a manner provided in this rule. (2) Where the aggregate of the value of money and the fair market value of the capital asset rece