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profit on sale of capital assets

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(Querist)
24 July 2010 A co. has a block of assets having a w.d.v. NIL. But it still has some assets. These are sold during the year. Now I think that the amount on sale of capital assets will be the profit on sale of assets and will be taxed under capital gains.
Am I right????
If not, then plz tell the right treatement of the above.
Thanks
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srinath

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srinath (Expert)
24 July 2010 ya u r right... since sale consideration is more than WDV it would be taxed as short term capital gain...
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
24 July 2010 yES IT WOULD BE TAXED AS STCG.
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