11 October 2008
assesse was having a depreciable asset of wdv on 1/04/07 of Rs. 500000/-, in the current year he sold the asset on 31/02/2008 for 2500000/-, and purchased a new asset of same block on 01/01/2008for 1500000/-, so what will be its treatment in depreciation, short term capital gain, and wdv as on 31/03/2008. Block is not yet nil becasue of new asset purchased.
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