https://www.taxtmi.com/caselaws?id=469568 Gain on transfer of a depreciable asset forming part of a block of assets is deemed short-term capital gain for computation under section 50(1), but that deeming fiction does not alter the asset's underlying long-term character for all purposes of the Act. Accordingly, where the asset was held for more than 36 months, the concessional tax rate for long-term capital gains under section 112 remains available even though the gain is computed under section 50. The combined effect is that computation and taxation rate may be governed by different provisions on these facts. en-us Fri, 07 Mar 2025 00:00:00 +0530 Mon, 22 Jun 2026 19:00:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469568 Gain on transfer of a depreciable asset forming part of a block of assets is deemed short-term capital gain for computation under section 50(1), but that deeming fiction does not alter the asset's underlying long-term character for all purposes of the Act. Accordingly, where the asset was held for more than 36 months, the concessional tax rate for long-term capital gains under section 112 remains available even though the gain is computed under section 50. The combined effect is that computation and taxation rate may be governed by different provisions on these facts. Case-Laws Income Tax Fri, 07 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469568