https://www.taxtmi.com/caselaws?id=782381 ITAT Ahmedabad held that once a motor car forms part of a depreciable "block of assets" under Section 32 read with Section 43(6)(c) and Rule 5, its individual identity is lost and no separate taxable profit arises on its sale. Since the sale consideration of Rs. 5,60,000 had already been reduced from the block while computing depreciation, that adjustment constituted the complete statutory treatment. Taxing the book profit on sale separately would amount to double taxation. The AO's addition and the CIT(A)'s confirmation were therefore unsustainable. Appeal allowed in favour of assessee. en-us Tue, 25 Nov 2025 00:00:00 +0530 Fri, 28 Nov 2025 08:24:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782381 ITAT Ahmedabad held that once a motor car forms part of a depreciable "block of assets" under Section 32 read with Section 43(6)(c) and Rule 5, its individual identity is lost and no separate taxable profit arises on its sale. Since the sale consideration of Rs. 5,60,000 had already been reduced from the block while computing depreciation, that adjustment constituted the complete statutory treatment. Taxing the book profit on sale separately would amount to double taxation. The AO's addition and the CIT(A)'s confirmation were therefore unsustainable. Appeal allowed in favour of assessee. Case-Laws Income Tax Tue, 25 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782381