https://www.taxtmi.com/caselaws?id=203592 The Tribunal allowed the appeal, granting the set off of the brought forward loss from long-term capital assets against the gain from the sale of depreciable assets. The Tribunal held that Section 50 applies only to the computation of capital gains for depreciable assets and does not convert long-term capital assets into short-term assets. Therefore, the assessee was entitled to set off the loss against the computed long-term capital gain. en-us Wed, 13 Apr 2011 00:00:00 +0530 Mon, 06 Jun 2011 19:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203592 The Tribunal allowed the appeal, granting the set off of the brought forward loss from long-term capital assets against the gain from the sale of depreciable assets. The Tribunal held that Section 50 applies only to the computation of capital gains for depreciable assets and does not convert long-term capital assets into short-term assets. Therefore, the assessee was entitled to set off the loss against the computed long-term capital gain. Case-Laws Income Tax Wed, 13 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203592