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Income Tax - Highlights / Catch Notes

Home Highlights February 2015 Year 2015 This

Advance for the sale of property - receipt cannot be brought to ...


Advance for Property Sale Not Taxable: Assessee Not Owner, Not Trading, Not Received This Year.

February 7, 2015

Case Laws     Income Tax     AT

Advance for the sale of property - receipt cannot be brought to tax in the hands of assessee as (a) he is not owner of the property (b) he was not trading in the said property (c) it is not received in the year under consideration. - AT

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