The Tribunal held that capital gains on Lease hold right is assessable under normal provisions of the capital gains, however building being depreciable asset capital gain to be computed as short term u/s 50 of the Act. (AY. 2015-16)
Hirsh Bracelet India (P.) Ltd. v. ACIT (2019) 178 ITD 601 (Bang.) (Trib.)
S. 45 : Capital gains-Land and building -Right in the lease hold land– Building-Lease hold right assessable under normal provisions of the capital gains-Building being depreciable asset capital gain to be computed as short term u/s.50 of the Act. [S. 2(11), 2(29A), 2(29B), 2(42A), 50]