Capital gain,accounting treatment

 Arun Student CA IPC / IPCC 1. Whether a depreciable asset (Buillding and Machinery)sold for profit gives rise to Short term Capital Gain or Long Term. As Sec 2(42) says any capital asset held for more than 36 months is a long term capital asset. So whether the Gain arising out of it is Short term or long term 2. Opening Wdv is 18 lakhs and the money recieved on sale of asset is 20 lakhs. So while calculating depreciation as per income tax act the closing wdv becomes negative which is treated as short term gain,But still if physically other buildings are available how to claim depreciaiton for them? 3. Book Treatment during Sale of fixed Assets- Calculated the Book Profit on sale of this Asset. So in schedule of fixed asset .in the sale/deletions column which figure we should put on whether the money actually recieved or the opening wdv on the FY in which it is sold ?