Capital Gains Tax Liability Only When Income Accrues; No Tax Due Without Completed Development or Compensation.

Liability to pay capital gain tax - hypothetical income - accrual of income - activity of development was not completed and assessee received nothing in lieu of execution of the development agreement - capital gain is liable to be assessed when the income will accrued to the assessee. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X