https://www.taxtmi.com/highlights?id=104831 Under the block-of-assets method, a commercially used flat included in a continuing commercial depreciation block loses its separate identity for income-tax computation. Section 50 permits short-term capital gain only where sale consideration exceeds the aggregate written down value of the relevant block, or where every asset in that block is transferred and the block ceases to exist. Recreating a separate residential block and a notional written down value for the flat on sale is inconsistent with its accepted commercial classification. Where other commercial-block assets remain and opening written down value exceeds sale consideration, no short-term capital gain arises and the related addition is unsustainable. en-us Mon, 12 Oct 2026 04:18:33 +0530 Mon, 12 Oct 2026 04:18:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=104831 Under the block-of-assets method, a commercially used flat included in a continuing commercial depreciation block loses its separate identity for income-tax computation. Section 50 permits short-term capital gain only where sale consideration exceeds the aggregate written down value of the relevant block, or where every asset in that block is transferred and the block ceases to exist. Recreating a separate residential block and a notional written down value for the flat on sale is inconsistent with its accepted commercial classification. Where other commercial-block assets remain and opening written down value exceeds sale consideration, no short-term capital gain arises and the related addition is unsustainable. Highlights Income Tax Mon, 12 Oct 2026 04:18:33 +0530 https://www.taxtmi.com/highlights?id=104831