Can sec. 50(1) and sec.50(2) attract ltcg ?

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 November 2011 If there is no additions in the block of assets during the last 3 year including the previous year then can any transfer made during the previous year attract Long Term Capital Gain or not in the following 2 situations ?
A. if the block of assets is empty at the end of the previous year . &
B. The closing WDV of the asset block is Zero after the transfer.

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 November 2011 Please reply

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