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whether block is considered as nil

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(Querist)
11 October 2008 wdv of asset on 1/04/07 was 500000/- it was sold on 31/08/2007 afterwards another asset was purchased on 01/01/08, what will be its treatment on depreciation, shart term capital gain, and its wdv on 31/03/2008.
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
11 October 2008 In case there is a single item in the block and the WDV of the block is not extinguished even after adjusting the sale proceeds of other items of the block, depreciation may be calculated and claimed on the remaining balance. If there is a surplus, the same is taxable as STCG u/s 50.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
12 October 2008 Sale value dt 31/8/07 and purchase value dt 1/1/08 may be given for an answer.
Also specify whether all the three assets are in the same block.
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