https://www.taxtmi.com/caselaws?id=20989 The court ruled in favor of the Revenue on the first two issues, determining that the asset was a capital asset and the profit was capital gain. The third issue was deemed academic and not answered. The fourth issue was resolved in favor of the assessee, allowing the set off of unabsorbed loss and depreciation under the specified conditions. No order as to costs was made. en-us Wed, 25 Nov 1992 00:00:00 +0530 Wed, 18 Nov 2009 14:01:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20989 The court ruled in favor of the Revenue on the first two issues, determining that the asset was a capital asset and the profit was capital gain. The third issue was deemed academic and not answered. The fourth issue was resolved in favor of the assessee, allowing the set off of unabsorbed loss and depreciation under the specified conditions. No order as to costs was made. Case-Laws Income Tax Wed, 25 Nov 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20989