Loss arising on the demolition of a depreciable asset - where an ...

Income Tax

May 18, 2017

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 value and the salvage received shall have to be treated as short term capital gain or short term capital loss, as the case may be u/s 50 - AT

View Source

← Previous Next →

Loss arising on the demolition of a depreciable asset - where an ...

Income Tax

May 18, 2017

You may also like:

Land is not a depreciable asset and hence can not form part of block of assets u/s 50 - investment eligible for exemption u/s 54EC

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...

Deduction u/s 54F - Capital gain arising from depreciable assets is long term capital gain for the purpose of claiming exemption under Section 54F/54E of the

Whether long term loss can be set-off against capital gains u/s 50 from sale of depreciable assets - Held yes - HC

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...

Disallowance of depreciation rejecting concept of 'Block of Asset' - use of individual assets - business use of each item of a block of assets is not necessary for...

Disallowance of depreciation on discarded assets – when the assessee has received the compensation for discarding of the assets, than even the same has not been...

Depreciation on Electrical Fittings – 15% or 25% - once a particular depreciable asset enters the block it losses its identity and it is not possible to apply the new...

Service namely, removing of jungle and bushes in the existing premises of the building does not fall under the definition of Site Formation and Clearance, Excavation,...

Exemption u/s 54 - LTCG - assessee has demolished existing residential building before sale - benefit of exemption not available - HC

Quick Updates: