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2003 (12) TMI 38 - HC - Income TaxCapital gain – transfer of short-term capital asset - acquisition of asset - Whether for the purpose of section 50(2), the assets in respect of which depreciation had been allowed under section 32(1), proviso, being the amount equal to the actual cost of acquisition, that being the extent of "depreciation actually allowed", the whole of the amount received by the assessee when the assessee sold those depreciated assets, is required to be treated as a capital gain arising from the transfer of short-term capital assets – Question is answered in affirmtive
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