Dispute Over Short-Term Capital Gains Calculation in Slump Sale: Depreciation Handling Contested by Tax Authorities.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Slump sale - short term capital gain - the Assessing Officer/C.I.T.(A) erred in not accepting the computation of short term capital gains on slump sale of the undertaking and in seeking to reduce depreciation that could have been allowable for assessment year 2000-01, but had not been claimed or actually allowed in the assessment for that year. .... - AT....