Gujarat HC: Gain Calculated as Difference in Values. Respondent Given 3 Months for Paper Book

The Gujarat HC held that the gain should be calculated as the difference between Rs. 86,15,894 and the written down value of Rs. 34,64,745. The respondent was given three months to submit the Paper Book.

---

---

The Gujarat High Court heard the case regarding short term capital gain in the hands of the assessee firm. The substantial question of law was whether the Tribunal was correct in holding that the gain would be the difference between Rs. 86,15,894 and the written down value of Rs. 34,64,745. The Court issued notice to the respondent for submission of the Paper Book within three months.

---