Profit on sale of fixed assets

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Querist : Anonymous

Querist : Anonymous (Querist)

26 August 2014 Can any one tell
Under which Section profit on sale of fixed Assets is Disallowed while calculating PGPB, ( if asset sold part of block of fixed and also whole block of Fixed Assets)

Akshay Malpani

Akshay Malpani (Expert)
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26 August 2014 Refer Section 50 and Section 50B

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Querist : Anonymous

Querist : Anonymous (Querist)

26 August 2014 Sir if i not calculated Capital gain araising from profit on sale of fixed assets and profit credited in income and Expendicture a/c . Is it wrong, if it is wrong means what is correct answer