https://www.taxtmi.com/acts?id=3608 Where assets form part of a depreciable block, if aggregate consideration on transfers in the year exceeds transfer expenses plus the block's opening written down value and actual cost of acquisitions during the year, the excess is deemed to be short term capital gains; when a block ceases to exist because all assets are transferred, the block's opening written down value plus acquisitions is treated as cost of acquisition and the income from such transfers is deemed short term capital gains. Goodwill within a depreciable block has specified prescribed treatment and certain reductions are deemed transfers. en-us Sat, 19 Jan 2008 22:45:54 +0530 Wed, 27 Aug 2025 18:13:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3608 Where assets form part of a depreciable block, if aggregate consideration on transfers in the year exceeds transfer expenses plus the block's opening written down value and actual cost of acquisitions during the year, the excess is deemed to be short term capital gains; when a block ceases to exist because all assets are transferred, the block's opening written down value plus acquisitions is treated as cost of acquisition and the income from such transfers is deemed short term capital gains. Goodwill within a depreciable block has specified prescribed treatment and certain reductions are deemed transfers. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3608