|QUERY:||If an assessee is owner of different proprietary concerns, can he get the block of assets under same group clubbed for all of his proprietary units or has to work out gain u/s 50 for the sale of assets of one of his unit?|
|ANSWER:||Click here to read the full answer of the expert|
|EXPERT:||CA. H. N. Motiwalla|
|CATCH WORDS:||block of assets, capital gains, depreciable assets, General Clauses Act|
S. 32 of the Income-tax Act, 1961, provides for a deduction or allowance being made in respect of depreciation of building, machinery, plant or furniture owned by the assessee and used for purpose of his business or profession, [Golcha Properties Pvt. Ltd. vs. CIT [209 ITR 80 (Raj)].