TMI BlogAgricultural land sale results in long-term capital loss, eligible for carry forward to offset future gains.Capital Gain – Agricultural land purchase for commercial use - It was definitely a business asset held as such in the books of the assessee hence, loss on sale of such land would constitute a long term capital loss and would be eligible for carry forward for set off to future years. - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
|