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Income Tax - Highlights / Catch Notes

Home Highlights September 2014 Year 2014 This

Agriculture land or not - Merely because of the fact that the ...


Short Land Holding Doesn't Mean Taxable Profit: Consider Use and Other Factors for Agricultural Land Tax Classification.

September 3, 2014

Case Laws     Income Tax     AT

Agriculture land or not - Merely because of the fact that the land was sold in a short period of holding, it cannot be held that income arising from the sale of land was taxable as profit arising from the adventure in the nature of trade or capital gain - AT

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