Net worth computation for slump sale: depreciable assets at written down value, certain capital assets nil, others at book value. Amendment to Explanation 2 of section 50B prescribes that net worth for slump sale capital gains is computed by treating depreciable assets at the written down value of the block of assets under the referenced provision of section 43, treating capital assets wholly deductible under section 35AD as nil, and treating other assets at their book value. The change is consequential and effective from the stated operative date, applying to subsequent assessment years.
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Net worth computation for slump sale: depreciable assets at written down value, certain capital assets nil, others at book value.
Amendment to Explanation 2 of section 50B prescribes that net worth for slump sale capital gains is computed by treating depreciable assets at the written down value of the block of assets under the referenced provision of section 43, treating capital assets wholly deductible under section 35AD as nil, and treating other assets at their book value. The change is consequential and effective from the stated operative date, applying to subsequent assessment years.
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