Depreciation

Shashikant (ARTICLED ASSISTANT) (207 Points)

26 May 2016  
Asset purchased on 1.5.12 for ₹4lakh. It is machine with depreciation rate 15%. It got destroyed in Aug 15. Assessee co receives 6lakh as compensation. Please calculate CAP GAINS. Assuming the machine is only asset in block of asset.
Thank you in advance for help.