An office premises was used for the purpose of business and depreciation was claimed u/s 32. Two years back , it was decided by the Company to treat the office premises as an Investment and the same was leased out since then. Since office is leased out , no depreciation is claimed.
Questions:
Can an assessee remove immovable property (at its WDV) forming part of the block and treat as "Investment".
What would be the holding period if the said property is sold subsequently for treating it a long term asset ? whether the date of acquisition be considered or the date of pullig out from the block of assets be considered ?
Questions:
Can an assessee remove immovable property (at its WDV) forming part of the block and treat as "Investment".
What would be the holding period if the said property is sold subsequently for treating it a long term asset ? whether the date of acquisition be considered or the date of pullig out from the block of assets be considered ?