Capital gain on fixed assets

Neethu (CA) (138 Points)

26 October 2013  

Please confirm if capital gains apply to the following situation :

Opening value in block ( vehicles ) : 126596

Sale of car on 11.06.2012 : 143000

Purchase of car on 31.07.12 : 659779

 Do we need to consider the order of additions and sales to arrive at a conclusion on the applicability of gains? or simply the total additions and deletions during the year?

Waiting for reply..