https://www.taxtmi.com/caselaws?id=212907 The court concluded that short term capital gains tax was not payable under Section 50 of the Income Tax Act, 1961. It emphasized that the block of assets should be interpreted as assets carrying the same rate of depreciation, and gains from the sale of such assets should be computed accordingly. The appeals were disposed of in favor of the assessee, with no costs awarded. en-us Thu, 19 Apr 2012 00:00:00 +0530 Mon, 30 Apr 2012 08:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212907 The court concluded that short term capital gains tax was not payable under Section 50 of the Income Tax Act, 1961. It emphasized that the block of assets should be interpreted as assets carrying the same rate of depreciation, and gains from the sale of such assets should be computed accordingly. The appeals were disposed of in favor of the assessee, with no costs awarded. Case-Laws Income Tax Thu, 19 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212907