Profit on sale of fixed assets

profit on sale of fixed assets is revenue receipt or capital receipt ??
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Quick Summary
This discussion explores whether profit on the sale of fixed assets is considered a revenue receipt or a capital receipt. It clarifies that such profits are typically treated as capital receipts but are recorded in the P&L account because incomes and gains are nominal accounts. The conversation also touches upon depreciation details for factory LED lights as per the Income Tax Act.

Capital receipt certainly
So why it is recorded in p&l a/c

Incomes and gains are nominal accounts

Please provide the details of depreciation  https://banksnear-me.com/ available for LED lights used in factory for industrial purpose as per income tax act Your early .

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