Block of asset

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Anmol Varma (Querist)
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20 September 2014 28/06/2013 Wdv Rs180000 sale of all machines in the blk Rs200000 purchase of machine 22/12/13 Rs200000 what will be closing value of blk before depreciation, and whether capital gain will arrise or not.?? ignore depreciation.

CA vandana goyal

CA vandana goyal (Expert)
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20 September 2014 opnening wdv 180000
-sale 200000
+purchase 200000
__________ ______
closing balance 20000

no capital gain arises

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Anmol Varma

Anmol Varma (Querist)
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26 September 2014 Thanks for the reply, Ma'am, but m still confused, because books suggests that the block should be seen at the end of the year, but this is the case where block ceases during the year and then a new machine is purchased in the same block later on. Can anyone provide me any link where I can get any solved example of questions of such type, to have a proof of the same thing.

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