Revenue challenged Special Bench order in SKF\u00a0India\u00a0Ltd v. Dy.CIT (2025) 210 ITD 1 \/ 121 ITR \u00a0307\u00a0(SB) ( Mum)( Trib) holding that gains computed as short-term capital gains under section 50 on transfer of depreciable long-term capital assets would still be taxable at rate applicable to long-term capital gains under section 112 . \u00a0Though Court held that writ petition was not barred merely because final regular Bench order dated 25-2-2025 was not separately challenged, it declined to entertain writ petition as challenge was essentially to legal interpretation by Tribunal, which could be effectively agitated in appeal under section 260A . Mere alleged error of law or interpretation does not amount to lack of jurisdiction or breach of natural justice so as to invoke extraordinary writ jurisdiction . \u00a0Writ petition dismissed leaving merits of controversy open. (WP L.No. 31106 of 2025 dt. 16 -3 -2026 )<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 50 : Capital gains – Depreciable assets – Block of assets -Rate of tax – Rate of tax of would be in terms of section 112 at rate of 20 per cent- Writ petition against order of ITAT Special Bench , SKF India Ltd v. Dy.CIT (2025) 210 ITD 1 \/ 121 ITR 307 (SB) ( Mum)( Trib) – Alternative remedy – Interpretation of sections 50 and 112 \u2013 Writ petition dismissed leaving merits of controversy open. [ S. 2(11), 32 ,50, 112 , 260A , Art. 226 ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-59141","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fnT","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=59141"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59141\/revisions"}],"predecessor-version":[{"id":59142,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59141\/revisions\/59142"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=59141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=59141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=59141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}