Section 32AC(2)

(2) If any new asset acquired and installed by the assessee is sold or otherwise transferred, except in connection with the amalgamation or demerger, within a period of five years from the date of its installation, the amount of deduction allowed under sub -section ( 1) 6[or sub -section ( 1A)] in respect of such new asset shall be deemed to be the income of the assessee chargeable under the he ad “Profits and gains of business or profession” of the previous year in which such new asset is sold or otherwise transferred, in addition to taxability of gains, arising on account of transfer of such new asset.