Taxation on Depreciated property in a Company

1) A Pvt Ltd Company sells an immovable property.
2) Depreciation has been claimed on the property so balance sheet has the depreciated value.

Queries:
1) How will it be Taxed? will it be considered long term or short term or just Income.
2) can the gain be invested under the Section-54ec bonds for tax benefits?
3) Any other stipulated way to reduce the tax burden.
4) Can the tax liability on the gain be adjusted against the accumulated MAT?

Thank you in advance for the response.