https://www.taxtmi.com/caselaws?id=195941 The appeal was partly allowed. The Tribunal upheld the applicability of Section 50C to the sale of depreciable assets but directed the AO to apply the long-term capital gains tax rate for assets held over three years. Additionally, the Tribunal ruled in favor of the assessee regarding the charging of interest under Section 220(2), aligning with the CBDT Circular and relevant case law. en-us Wed, 25 Mar 2015 00:00:00 +0530 Wed, 15 Nov 2017 08:33:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195941 The appeal was partly allowed. The Tribunal upheld the applicability of Section 50C to the sale of depreciable assets but directed the AO to apply the long-term capital gains tax rate for assets held over three years. Additionally, the Tribunal ruled in favor of the assessee regarding the charging of interest under Section 220(2), aligning with the CBDT Circular and relevant case law. Case-Laws Income Tax Wed, 25 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195941