2009 (8) TMI 680

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....Ibrahim Kalifulla J.-The Revenue has come forward with the above appeal raising the following substantial questions of law : "1. Whether on the facts and in the circumstances of the case, the Appellate Tribunal was right in confirming the order of the Commissioner of Income-tax (Appeals) holding that only the capital gains on the building had to be computed as short-term capital gains and the b....

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....whole, it was not possible to bifurcate the sale consideration to a particular asset. It was further held that section 50 of the Act would apply only when depreciable assets alone are transferred. 3. In the case on hand, the assessee, who was running a lodge, is stated to have sold the property situated at No. 22/44, Venkatrao Road, Salem along with superstructures, namely, the building constru....