Computing the capital gain on sale of assets - WDV of ...

Capital Gain Calculation on Sale of Depreciable Assets: Treatment of Written Down Value u/s 11 Until AY 2015-16.

January 6, 2023

Case Laws Income Tax AT

Computing the capital gain on sale of assets - WDV of depreciable assets - Exemption u/s 11 - the assessee has partly claimed the depreciation on this asset and when the asset was sold the remaining WDV which was determined by reducing the depreciation from the cost of acquisition claimed till date existed in the books of account. In our considered view to this extent we find merit in the contention of the A.R that whatever left in the books of account in the form of WDV has to be allowed while computing the capital gain till A.Y. 2015-16. - AT

View Source

← Previous Next →

Computing the capital gain on sale of assets - WDV of ...

Capital Gain Calculation on Sale of Depreciable Assets: Treatment of Written Down Value u/s 11 Until AY 2015-16.

January 6, 2023

Case Laws Income Tax AT

You may also like:

Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

ITAT held that gains from sale of trademarks "Coldarin" and "Raricap" acquired prior to 01/04/1998 qualify as Long Term Capital Gains, not Short Term Capital Gains....

Deduction u/s 54EC - short capital gain arising on sale of depreciable asset - it cannot be said that section 50 converts long-term capital asset into a short-term...

Non setting off carried forward business loss against the Capital Gain computed u/s 50 - sale of depreciable assets - legal fiction is to be deemed the capital gain as...

Short term capital gain - capital gain arose from transfer of land to the partnership firm by way of capital contribution as the assets was converted to Fixed Capital...

Exemption u/s 54EC - eligibility of capital gain from sale of depreciable assets being taxable as short term capital gain u/s 50 – overriding provision - benefit of...

CIT(A) was right on the issue of set off of profit on sale of depreciable assets of ₹ 1.13 crores against long term capital gain which arose to the assessee on...

Rate of tax on sale of depreciable assets - STCG vs LTCG - as per Section 112 of the Act, the tax on long term capital gains on transfer of a long term capital asset is...

Exemption u/s 54F - short term capital gain from sale of depreciable assets u/s 50 - sale of depreciable assets being factory shed is eligible for exemption u/s 54F of...

Surplus earned on the sale of plot - ‘capital gain‘ OR ‘business income’ - There is no clause in the partnership deed about making investment in the land and to earn...

Deduction u/s 54EC - LTCT or STCG - Investment of consideration against sale of depreciable assets - Section 50 cannot convert long term capital assets into short term...

Short Term Capital Gain u/s 50 - sale of property being part of block of assets - the other property never entered the block of depreciable asset as income from them was...

Loss arising on the demolition of a depreciable asset - where an asset is demolished, and the block of asset ceases to exist, the difference between the written down...

Exemption u/s 11 - assessee has not shown that the amount kept in fixed deposits have been allocated to or earmarked for a charitable purpose - Section 11(1A) is...

Short term capital gain on sale of depreciable assets is not profits and gains of any business or profession - HC

Quick Updates: