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Block of asset sold

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 September 2013 op. bal of block of asset Rs. 20 lacs

purchase during the year Rs. 4 lacs in which 2 lacs purchase 180 days.

Full Block sold 31/12/2012 Rs. 25 lacs


Q-1 What is the treatment as per Income Tax Act...??

Q-2 weather we claim depreciation in income tax return because block is not in existence..??
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Querist : Anonymous

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Querist : Anonymous (Querist)
21 September 2013 pls solve..........
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Ashwani Narnoli

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Ashwani Narnoli (Expert)
21 September 2013 You cant charge dep since block ceased to exist on 31.3.13
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