Doubt on Depreciation

the insurance claim proceeds received from the insurance company for the demolished factory building will be treated as sale proceeds of the building..it amounts to transfer of property u/s 45(1A)

As the block ceases to exist, depreciation on that asset cannot be claimed for that year. STCG will be calculated as per section 50 if Sale price is more than the WDV of the asset. in th reverse case it will be taken to P&L acc. as loss on sale of asset

I AGREE WITH "A Learner"

As the block ceases to exist, depreciation on that asset cannot be claimed for that year. STCG will be calculated as per section 50 if Sale price is more than the WDV of the asset. in th reverse case it will be taken to P&L acc. as loss on sale of asset