Three situuations
1.There are assets and value in the block after adding purchases to opening wdv and deducting sales and deducting normal and addl depreciation
2.There are assets in the block but opening wdv adding purchases and deducting sales and normal depreciation and addl depreciaton comes to Nil
3.There are no assets in the Block as the entire block is sold for a consideration exceeding opening wdv and Purchases
In what circumstances namely the three sitauations short term capital gains as per sec50 Arises are there any other circumstances not detailed above which is subject to sec 50 please illustrate with numerical examples
CAclubindia
