block of assets

  • Income Tax

Gain on sale of fixed assets held not taxable under income tax act

Gain on sale of fixed assets was not taxable under income tax act as sale consideration was reduced from block…

12 months ago
  • Income Tax

Once an asset is part of block, depreciation can not be denied for non-use of individual item

Once an asset is part of block, depreciation can not be denied non-use. The concept of “use” of assets has…

3 years ago
  • Income Tax

Once depreciation is claimed, asset cannot move out of the Block of Assets – High Court affirms

Once depreciation is claimed, asset cannot move out of the Block of Assets even if no depreciation was claimed for many years thereafter – High Court affirms ITAT order   ABCAUS Case Law…

7 years ago