TP: Depreciation is Operating & revenue from Sale of Asset is non-operating in nature

FMI Automotive Components Pvt. Ltd. Vs DCIT (ITAT Delhi)

Sale of asset is not part of regular revenue operation in the case of the assessee and, therefore, profit generated on same cannot be part of revenue operation of the assessee. In our opinion, the Learned DRP has correctly held the profit on sale of a set as non-operative item. As far as the depreciation on operative expense is concerned, the learned DRP has held to be operative in view of assets used for the purpose of the business, and thus depreciation is part of ex

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