https://www.taxtmi.com/caselaws?id=30807 The High Court upheld the Income Tax Appellate Tribunal's decision to allow the assessee 100% depreciation, as the assets were found to have been used during the relevant period. Additionally, the Court ruled that no short-term capital gain could be taxed under Section 50(2) as the block of assets did not cease to exist during the previous year. The Court dismissed the appeal, finding no substantial question of law for interference. en-us Tue, 16 Sep 2008 00:00:00 +0530 Wed, 24 Sep 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30807 The High Court upheld the Income Tax Appellate Tribunal's decision to allow the assessee 100% depreciation, as the assets were found to have been used during the relevant period. Additionally, the Court ruled that no short-term capital gain could be taxed under Section 50(2) as the block of assets did not cease to exist during the previous year. The Court dismissed the appeal, finding no substantial question of law for interference. Case-Laws Income Tax Tue, 16 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30807