09 June 2010
Depreciation has not been charged on leasehold land, and now the assessee is selling the property, can he claim it under block of assets method. weather it is long term or short term capital gain.
10 June 2010
Just to correct the reply of BK, Depreciation is not available on lease hold land under the Income tax act. For rest of the reply i agree with him
CAclubindia
