Query

not chargable to capital gain

The same may be chargeable to capital gains or the depreciation may be allowed under PGBP head:

Opening WDV of block Block                                        XXX

add: additions during the year                   XXX

Less: sale during the year                         (XXX)

CLosing WDV(Without current yr' depr)of teh block   XXX

If the same is positive, then Depreciation will be claimed...

If the above is negative, then it shall be chargable to Capital Gains(which shall be Short term capital gains by virtue of section 50) 

IF THE WDV OF BLOCK AFTER SALE OF P& M is POSITIVE THEN CHARGE DEPRECIATION AND IF WDV IS NEGATIVE THEN IT PROFIT AND TAXABLE UNDER SECTION 50 AS STGC.