Special provision for computation of capital gains in case of depreciable assets

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..... spect of which depreciation has been allowed under this Act or under the Indian Income-tax Act, 1922 (11 of 1922), the provisions of sections 48 and 49 shall be subject to the following modifications :- ( 1 ) where the full value of the consideration received or accruing as a result of the transfer of the asset together with the full value of such consideration received or accruing as a result .....

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..... tten down value of the block of assets at the beginning of the previous year, as increased by the actual cost of any asset falling within that block of assets, acquired by the assessee during the previous year and the income received or accruing as a result of such transfer or transfers shall be deemed to be the capital gains arising from the transfer of short-term capital assets. ] 2 [Provi .....

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..... , w.e.f. 1-4-1988. Earlier section 50 was amended by the Finance Act, 1986, w.e.f. 1-4-1987 and the Finance (No. 2) Act, 1977, w.e.f. 1-4-1978. 2. Inserted vide THE FINANCE ACT, 2021 dated 28-03-2021 w.e.f. 01-04-2021 3. Inserted vide Finance Act, 2022 w.e.f. 01-04-2021 - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Manageme .....

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