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TMI BlogCapital assetX X X X Extracts X X X X X X X X Extracts X X X X ..... Whether Land situated in Nagar Panchayat Area of which population is less than 10000 would be capital asset. Please note that name of this Nagar Panchayat is not given in Notification No.9447 dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 06.01.1994 issued under Section 2(14)(iii)(b) . It is also away for more than 8 kms. from the nearest Municipal Corporation given in the aforesaid notification. Regards CA Vijay Maheshwari Please ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... give - Reply By Sachin Agarwal - The Reply = Merely not notified in the notification does not mean that it become capital asset. fundmentally it does not fall under the definition of the Capital Ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... et u/s 2(14). If do you want to know more, please write me on the email id [email protected] - Reply By Sunil Jain - The Reply = In my opinion Land any way is an capital asset whether it is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the municipal limits or not. - Reply By CA GOPAL JI AGRAWAL - The Reply = In my view, if the land is agricultural in the instant case,then it would not be capital capital asset. - Capital asset - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Query Started By: - Vijay Maheshwari Dated:- 19-2-2009 Income Tax - Got 3 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management Indi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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