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2013 (12) TMI 333 - HC - Income TaxWhether long term loss can be set-off against capital gains u/s 50 from sale of depreciable assets - Held that:- Following CIT v. Ace Builders (P.) Ltd [2005 (3) TMI 36 - BOMBAY High Court] - By virtue of Section 50 of the Act only the capital gains is to be computed in terms thereof and be deemed to be short-term capital gains. However, this deeming fiction is restricted only for the purposes of Section 50 of the Act and the benefit under other sections of the Act will be available to the gains computed under this section - Decided against Revenue.
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