https://www.taxtmi.com/caselaws?id=784108 Depreciable factory building: The Tribunal held that once depreciation had been claimed, the asset retained its character as a commercial depreciable asset; non-use or encroachment did not alter its character, and s.50 specifically governs computation of capital gains on transfer of depreciable assets, overriding any contrary classification under local laws. The AO's treatment of gains under s.50 was upheld. Agricultural land claim for the remaining land: The Tribunal held that exemption under s.2(14)(iii) requires factual verification which had not been properly undertaken, and documents accepted at first appeal were not tested against statutory conditions. The matter was set aside and remanded to the AO for fresh examination and decision. en-us Fri, 19 Dec 2025 00:00:00 +0530 Mon, 29 Dec 2025 08:56:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784108 Depreciable factory building: The Tribunal held that once depreciation had been claimed, the asset retained its character as a commercial depreciable asset; non-use or encroachment did not alter its character, and s.50 specifically governs computation of capital gains on transfer of depreciable assets, overriding any contrary classification under local laws. The AO's treatment of gains under s.50 was upheld. Agricultural land claim for the remaining land: The Tribunal held that exemption under s.2(14)(iii) requires factual verification which had not been properly undertaken, and documents accepted at first appeal were not tested against statutory conditions. The matter was set aside and remanded to the AO for fresh examination and decision. Case-Laws Income Tax Fri, 19 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784108