Madras H.C : The capital gains on the building had to be computed as short-term capital gains and the balance value of the land should be treated as long-term capital gains, even though the land and building being one composite asset and the assessee having claimed depreciation on the said asset, as per the provisions of s. 50 the entire profit was assessable as short-term capital gains
High Court Of Madras CIT vs. Coimbatore Lodge Section 50, 54EC F.M. Ibrahim Kalifulla & Mrs. R. Banumathi, JJ. Tax […]
