Assessee Entitled to Deduct Written Down Value of Assets as Fixed Asset Block Reduced to Nil by Year-End.

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....Computation of short-term capital gains - fixed assets have been reduced to nil at year-end which is evident from assessee’s Balance Sheet as placed on record. Hence, the fixed asset block has ceased to exist. Therefore, the deduction of WDV of assets as attached to above land & shed would be available to the assessee - AT....