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Long term capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 November 2012 If a pvt ltd company has sold his entire manufacturing unit situated in industrial area with plant and machinery. having business loss and unabsoarbed depreciation. Can it be set off against long term gain. ? If not then what about loss and depreciation.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
28 November 2012 Business loss and unabsorbed depreciation can be set off against LTCG. (Section 71)
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