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Capital gains on depreciable assets

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 March 2013 in case of transfer of depreciable assets why are the gains only short term in nature ?? (is it because once an asset enters the block its individuality is lost )
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CA Suraj Lakhotia

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CA Suraj Lakhotia (Expert)
06 March 2013 That might be the logic.

The income tax act specifically provides that transfer of these assets would be short term capital gain.

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