https://www.taxtmi.com/caselaws?id=349845 The Tribunal ruled that the surplus arising from the sale of the factory building should be treated as Short Term Capital Gain, not income from other sources. It held that the property was a capital asset, not used for business, and therefore not subject to depreciation. The Tribunal set aside the CIT(A)'s decision and directed the Assessing Officer to recalculate the assessee's total income accordingly. en-us Mon, 23 Oct 2017 00:00:00 +0530 Thu, 26 Oct 2017 08:37:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349845 The Tribunal ruled that the surplus arising from the sale of the factory building should be treated as Short Term Capital Gain, not income from other sources. It held that the property was a capital asset, not used for business, and therefore not subject to depreciation. The Tribunal set aside the CIT(A)'s decision and directed the Assessing Officer to recalculate the assessee's total income accordingly. Case-Laws Income Tax Mon, 23 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349845