https://www.taxtmi.com/caselaws?id=198186 The Tribunal upheld the Assessing Officer and CIT(A)'s decisions, ruling that capital gains from the sale of depreciable assets, computed under Section 50, are to be taxed at the higher rate applicable to short-term gains, not the concessional rate under Section 112. This decision aims to prevent dual benefits of depreciation and concessional tax rates on the same asset, in line with statutory provisions and to avoid unjust results. en-us Thu, 30 Oct 2014 00:00:00 +0530 Wed, 24 Jan 2018 18:10:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198186 The Tribunal upheld the Assessing Officer and CIT(A)'s decisions, ruling that capital gains from the sale of depreciable assets, computed under Section 50, are to be taxed at the higher rate applicable to short-term gains, not the concessional rate under Section 112. This decision aims to prevent dual benefits of depreciation and concessional tax rates on the same asset, in line with statutory provisions and to avoid unjust results. Case-Laws Income Tax Thu, 30 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198186