I have a SQL server table in which there are 2 columns that I want to update either of their values according to a flag sent to the stored procedure along with the new value, so
Since you're using SQL 2008:
UPDATE
table_Name
SET
column_A
= CASE
WHEN @flag = '1' THEN @new_value
ELSE 0
END + column_A,
column_B
= CASE
WHEN @flag = '0' THEN @new_value
ELSE 0
END + column_B
WHERE
ID = @ID
If you were using SQL 2012:
UPDATE
table_Name
SET
column_A = column_A + IIF(@flag = '1', @new_value, 0),
column_B = column_B + IIF(@flag = '0', @new_value, 0)
WHERE
ID = @ID