https://www.taxtmi.com/caselaws?id=792120 Section 50 applies a limited deeming fiction for depreciable assets and governs computation by reference to the written down value, but it does not change the asset's long-term character for rate purposes where the holding period is satisfied. On that basis, the gain on sale of the depreciable asset was treated as long-term capital gain, while the computation remained tied to the written down value rather than the original purchase cost. The claim for cost of improvement was rejected for want of documentary evidence, and prior depreciation barred revival of the original cost for indexation. en-us Tue, 21 Apr 2026 00:00:00 +0530 Sat, 23 May 2026 08:27:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792120 Section 50 applies a limited deeming fiction for depreciable assets and governs computation by reference to the written down value, but it does not change the asset's long-term character for rate purposes where the holding period is satisfied. On that basis, the gain on sale of the depreciable asset was treated as long-term capital gain, while the computation remained tied to the written down value rather than the original purchase cost. The claim for cost of improvement was rejected for want of documentary evidence, and prior depreciation barred revival of the original cost for indexation. Case-Laws Income Tax Tue, 21 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792120