Agricultural land sold by the assessee is not a 'capital asset' ...

Taxpayer's Rural Land Sale Not a 'Capital Asset' Per Income Tax Act Section 2(14)(iii); No Capital Gains Tax.

August 8, 2013

Case Laws Income Tax AT

Agricultural land sold by the assessee is not a 'capital asset' since it is in rural area within the meaning of section 2(14)(iii), the impugned receipt cannot be brought to tax as capital gain by invoking section 54B. - AT

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Agricultural land sold by the assessee is not a 'capital asset' ...

Taxpayer's Rural Land Sale Not a 'Capital Asset' Per Income Tax Act Section 2(14)(iii); No Capital Gains Tax.

August 8, 2013

Case Laws Income Tax AT

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