Assessee is a proprietor
There is only one asset in the block of Motor Vehicles
Asset was sold in the month of February 2017
Sale Value of the asset is more than the written down value of the block
Questions -
1. Will depreciation be charged for 10 months before the asset was sold?
2. What is the accounting treatment of the above transaction?
3. What is the taxation treatment and how to show in the ITR?