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Capital gain tax

(Querist) 29 January 2014 This query is : Resolved 
1. When an asset whose cost is N/C and sale it, is it liable for Taxability? It is not depreciable Assets? Cost is nil as the purchase / acquiring cost is already written off in P&L A/c and how that material is sold to third parties for consideration, is capital Gain attracts?
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Guest (Expert) 29 January 2014
Academic query of a student. Classroom exercises are not solved here.
Rajendra K Goyal (Expert) 29 January 2014
Academic query.

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