CIT, Panji v. Dempo Company Limited
What is CIT, Panji v. Dempo Company Limited authority for?
The 20% tax rate under Section 112 applies to capital gains arising from the transfer of a depreciable asset, even if it is deemed a short-term capital gain under Section 50, provided the asset was held for more than 36 months. The fiction created by Section 50 for treating such gains as short-term does not alter the long-term nature of the asset for applying the tax rate under Section 112.
judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2025.
Also referred to as
CIT v. Dempo Company Ltd · Dempo Company Limited · Section 50 · Section 112 · capital gains depreciable asset · short term capital gain fiction · long term capital gains tax rate · block of assets · 20% tax rate · holding period 36 months
Issues it is cited on
Judgments citing CIT, Panji v. Dempo Company Limited
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