Section 32AC(1)(b)

(b) for the assessment year co mmencing on the 1st day of April, 2015, of a sum equal to fifteen per cent. of the actual cost of new assets acquired and installed after the 31st day of March, 2013 but before the 1st day of April, 2015, as reduced by the amount of deduction allowed, if a ny, under clause ( a). 2[(1A) Where an assessee, being a company, engaged in the business of manufacture or production of any article or thing, acquires and installs new assets and the amount of actual cost of such new assets 3[acquired during any previo us year exceeds twenty -five crore rupees and such assets are installed on or before the 31st day of March, 2017 ], then, there shall be allowed a deduction of a sum equal to fifteen per cent. of the actual cost of such new assets for the assessment year rel evant to that previous year: 4[Provided that where the installation of the new assets are in a year other than the year of acquisition, the deduction under this sub -section shall be allowed in the year in whi ch the new assets are installed :] 5[Provided further that] no deduction under this sub -section shall be allowed for the assessment year commencing on the 1st day of April, 2015 to the assessee, which is eligible to claim deduction under sub-section ( 1) for the said assessment year.