https://www.taxtmi.com/caselaws?id=5604 Identifiable plant, machinery and dead stock transferred in a going-concern sale were treated as depreciable assets with ascertainable value, so the surplus over written down value fell within section 41(2) of the Income-tax Act to that extent. The remaining surplus, if any beyond the statutory balancing charge limit, was left for limited reconsideration on quantum under capital gains principles. The assessee was assessable as a body of individuals, not as a registered firm, and no relief was available on the CBDT circulars because they related to different facts and an earlier legal position. en-us Tue, 08 Jul 1997 00:00:00 +0530 Mon, 13 Oct 2025 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5604 Identifiable plant, machinery and dead stock transferred in a going-concern sale were treated as depreciable assets with ascertainable value, so the surplus over written down value fell within section 41(2) of the Income-tax Act to that extent. The remaining surplus, if any beyond the statutory balancing charge limit, was left for limited reconsideration on quantum under capital gains principles. The assessee was assessable as a body of individuals, not as a registered firm, and no relief was available on the CBDT circulars because they related to different facts and an earlier legal position. Case-Laws Income Tax Tue, 08 Jul 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5604