https://www.taxtmi.com/caselaws?id=466035 Section 50's applicability requires that the asset be part of a block of assets in respect of which depreciation has been allowed; where no depreciation was ever claimed or granted for the subject property, Section 50 is not invocable and cannot be used to compute capital gain, resulting in the rejection of the revenue's challenge. The clarification affirms that even a single prior allowance of depreciation would engage the provision, and prior precedent where depreciation was allowed is distinguishable and inapplicable to facts where depreciation was never admitted. en-us Wed, 05 Mar 2025 00:00:00 +0530 Tue, 20 Jan 2026 21:18:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466035 Section 50's applicability requires that the asset be part of a block of assets in respect of which depreciation has been allowed; where no depreciation was ever claimed or granted for the subject property, Section 50 is not invocable and cannot be used to compute capital gain, resulting in the rejection of the revenue's challenge. The clarification affirms that even a single prior allowance of depreciation would engage the provision, and prior precedent where depreciation was allowed is distinguishable and inapplicable to facts where depreciation was never admitted. Case-Laws Income Tax Wed, 05 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466035