https://www.taxtmi.com/caselaws?id=407708 The court dismissed the application for recall/rectification in a case concerning the applicability of Sec.50 in a property transaction and the disallowance of direct expenditure in computing capital gains. The bench found that the assessee failed to demonstrate that depreciation was never claimed on the property and could not prove that the property was not part of the block of assets. Additionally, certain expenses were deemed irrelevant for determining deductibility in computing capital gains. The court upheld the original order under Section 254(2) on 18th May 2021. en-us Tue, 18 May 2021 00:00:00 +0530 Thu, 22 Jul 2021 18:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407708 The court dismissed the application for recall/rectification in a case concerning the applicability of Sec.50 in a property transaction and the disallowance of direct expenditure in computing capital gains. The bench found that the assessee failed to demonstrate that depreciation was never claimed on the property and could not prove that the property was not part of the block of assets. Additionally, certain expenses were deemed irrelevant for determining deductibility in computing capital gains. The court upheld the original order under Section 254(2) on 18th May 2021. Case-Laws Income Tax Tue, 18 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407708