Live Help
Get News Alerts from Taxmann.com on your desktop.
No Thanks Allow
You have blocked the notification on recent updates. Click below to re-subscribe.
No Thanks
You have already subscribed to Taxmann’s notification.
No Thanks UnSubscribe
Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset Session Cancel Session
 

Gain from sale of asset was to be taxed u/s 50, though it wasn’t used for business purpose for several years

October 12, 2017[2017] 86 taxmann.com 175 (Bombay)
276 Views

IT : Where an asset for many years ceased to be used for purpose of business, it still forms part of block of assets because at some point of time in past it was used for purpose of business and depreciation was also allowed in past. Thus, profit earned on sale of said asset would be taxed under section 50

read more

taxmann.com
Payment
Best view in 1140 x 768