Section 50 capital gain on depreciable asset arises if:
AMarket value increases
BAsset sold after 3 years (per relevant Section) (per relevant Section)
CBlock exhausted OR consideration exceeds WDV plus additions
DAny transfer
Answer & Solution
Correct answer: C. Block exhausted OR consideration exceeds WDV plus additions
1. Section 50 deals with capital gains on depreciable assets in a block.
2. Gain arises if (i) entire block sold, or (ii) consideration > WDV at start of year + additions.
3. Depreciable assets are deemed short-term capital assets regardless of holding.
_Source: ICAI BoS CA Final Paper 7, Ch 4 "Capital Gains"_
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