capital gain/loss on relinquishment of assets
This query is : Resolved
15 March 2009
the wdv of a building owned by an trust is 1 crore, the trust is relinquishing it by writing it off in its book. the building is being transfered to another trust, whether the loss arising is a capital loss or revenue loss.
16 March 2009
income tax is quite diferent from a/c you can not relinquish an assets without consideration
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