https://www.taxtmi.com/caselaws?id=336706 The Tribunal partially allowed the appeal, confirming that the office premises sold were part of the block of assets, and depreciation was correctly claimed. However, the new office premises were not included in the block of assets as they were not proven to be constructed or used before the financial year-end. The Tribunal remanded the issue of the addition of Rs. 16,27,010 back to the Assessing Officer for verification and proper inquiry, directing the computation of any chargeable Short Term Capital Gain in accordance with the Act's provisions. en-us Mon, 31 Oct 2016 00:00:00 +0530 Tue, 27 Dec 2016 19:11:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336706 The Tribunal partially allowed the appeal, confirming that the office premises sold were part of the block of assets, and depreciation was correctly claimed. However, the new office premises were not included in the block of assets as they were not proven to be constructed or used before the financial year-end. The Tribunal remanded the issue of the addition of Rs. 16,27,010 back to the Assessing Officer for verification and proper inquiry, directing the computation of any chargeable Short Term Capital Gain in accordance with the Act's provisions. Case-Laws Income Tax Mon, 31 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336706