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of <h1>New rule treats transfers of depreciable asset blocks as deemed short-term capital gains when year's consideration exceeds WDV and expenses</h1> A statutory provision treats transfers of assets that form part of a depreciable block as producing deemed short-term capital gains where aggregate consideration in a year exceeds (a) transfer expenses, (b) the block's opening written-down value, and (c) cost of additions in that year; if the entire block is transferred the cost of acquisition is prescribed as opening WDV plus additions and receipts are similarly deemed short-term gains. The enacted text narrows the Bill's scope by omitting a referenced sub-section and slightly broadens allowable transfer expenditure language, requiring granular WDV, acquisition and transfer records for compliance.
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