Sale of fixed assets

Pavithra (Student CA Final ) (69 Points)

19 November 2015  

Hi all,

On sale of fixed assets, there is a loss as per Companies Act. And I have continued the asset in the block as per IT Act. My query is whether we can claim the loss on sale of asset as per Companies Act while calculating business income as per IT Act i.e., under PGBP

Thanks in advance