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2010 (12) TMI 815 - AT - Income TaxCapital gain - Lump sum sale - it is noted that the assessee included the property in its schedule of fixed assets for this year at Rs. 8,91,460. No depreciation was claimed in this year - It can be noticed that the value of this property as appearing in the balance sheet for assessment year under consideration at Rs. 8,91,460 continues to remain the same since its purchase in 1999. It shows that no depreciation was ever claimed or allowed on this property - In that view of the matter the provisions of s. 50 cannot be applied - Decided in favour of the assessee
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