Court Challenges 30% Tax Rate on Long-Term Capital Gains from Depreciable Asset Sales; Taxpayer's Claim Requires Review.
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....Taxability of long term capital gain arising on sale of depreciable asset at 20% instead of 30% - assessee has not made such claim either in the original return of income or through a revised return of income - CIT(A) was not justified in rejecting the claim of the assessee without deciding it on merit. - AT....


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