Answers On Topic: Return form capital gains – Sale of depreciable assets .
  Return form capital gains – Sale of depreciable assets .
Sir,  my assessee has sold a depreciable asset which was held for more than 3 years, the resultant gain has to be assessed as LTCG as held in Smita Conducters  Ltd   v. Dy. CIT (2015) 152 ITD 417 (Mum.)(Trib.) and other judgements. However, it appears that the Form prescribed for filing the Income Tax Return does not permit the gain to be offered as a LTCG. If the gain is not shown as STCG, the Form will not validate and the return cannot be filed.   What is the remedy ? How to fil the return  form ?


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