2021 (9) TMI 734

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....nkataraman, Additional Solicitor General ( D. L. Chidananda, Ms. Niranjana Singh, Navanjay Mahapatra, Varun Chug, Sughosh Subramanium, Mrs. Anil Katiyar and Raj Bhadur Yadav, Advocates, with him) JUDGMENT 1. Heard learned counsel for the parties. 2. In our view the High Court justly over-turned the opinion recorded by the Commissioner of Income-tax (Appeals) II, Aayakar Bhavan North Block....

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....in our view is meaningless and is only to avoid payment to tax on short-term capital gains on sale of the building. So long as the assessee continued business, the building forming part of the block of assets will retain its character as such, no matter one of two of the assets in one or two years not used for business purposes disentitles the assessee for depreciation for those years. In our view....