“sale proceeds” means—

(a) where the asset is sold, the proceeds thereof or the fair market value of the said asset, whichever is higher;

(b) where the asset is transferred by way of exchange, the fair market value of the asset acquired by such transfer;

(c) where the asset is transferred otherwise than by sale or exchange, the consideration received for such transfer;

(d) where the asset is discarded, demolished, destroyed or lost, the scrap value of the asset, or any amount received or receivable for insurance, salvage or compensation against the asset including the amount recovered through sale;

(e) where the asset is compulsorily acquired under any law for the time being in force in Bangladesh, the compensation paid thereof;

(f) where the asset ceases to be used by the assessee for the purpose of agriculture, the fair market value thereof at the time of such cessation;

(g) where any plant or machinery, after having been used in Bangladesh, is exported or transferred outside Bangladesh, the export value thereof;

(h) where the value of any passenger vehicle with respect to the maximum limit under the Third Schedule, the amount thereof shall be –

A x (B/C), where—

A = proceeds from the sale of the vehicle;

B = the amount specified in the Third Schedule;

C = actual expenditure incurred to acquire the vehicle;

Explanation.—“Sale” shall include exchange or otherwise transfer or compulsory acquisition under any law for the time being in force;