https://www.taxtmi.com/caselaws?id=799008 Section 50 deems capital gains on transfer of depreciable assets to be short-term only for computing those gains. The deeming fiction does not change the underlying character of a depreciable asset held for more than three years as a long-term capital asset. Accordingly, under Section 74, brought-forward long-term capital loss may be set off against the capital gain computed under Section 50 on transfer of such a long-term depreciable asset. en-us Mon, 27 Jul 2026 00:00:00 +0530 Tue, 15 Sep 2026 12:51:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799008 Section 50 deems capital gains on transfer of depreciable assets to be short-term only for computing those gains. The deeming fiction does not change the underlying character of a depreciable asset held for more than three years as a long-term capital asset. Accordingly, under Section 74, brought-forward long-term capital loss may be set off against the capital gain computed under Section 50 on transfer of such a long-term depreciable asset. Case-Laws Income Tax Mon, 27 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799008