Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights September 2015 Year 2015 This

After purchase of the property, no agricultural operations were ...


Property Sold Without Agricultural Use Deemed Trade Adventure, Subject to Taxation.

September 2, 2015

Case Laws     Income Tax     HC

After purchase of the property, no agricultural operations were carried on by the appellants and further that the property was sold within a short period which discloses nothing but an adventure in the nature of trade liable to be taxed - HC

View Source

 


 

You may also like:

  1. Capital Gain (LTCG) or Business income - the tests laid down in the decisions support the plea of the Assessee that he did not do any adventure in the nature of trade...

  2. Addition to income from capital gains - Nature of land sold - Anyhow, to meet the ends of natural justice, we direct the assessee to file complete sale deeds of the...

  3. The Income Tax Act did not intend to tax deemed rental income from properties held as stock-in-trade prior to the assessment year 2018-19. Section 23(5), introduced from...

  4. Sale and purchase of agriculture land - adventure in trade - Merely because of the fact that the land was sold for profit, it cannot be held that income arising from the...

  5. Gain on sale of land - Short Term Capital Gain OR business income - the assessee converted the agricultural land into non-agricultural purpose - The above transaction is...

  6. Whether the sale of property was adventure in the nature of trade - Held no - The sale of agricultural plot was not by way of business purpose - HC

  7. Capital gain on sale of land - Nature of land - it is undisputed fact that assessee has sold agricultural land on which he was carrying out agricultural activities prior...

  8. Nature of land sold - the decision to treat the transferred property as agricultural land is against law and facts, especially since the assessee has not established...

  9. Capital gain - nature of land sold - capital asset v/s agricultural land - whether the agricultural land sold by the assessee or his HUF is a ‘capital asset’? - land...

  10. LTCG - no capital gains arises on the sale of agricultural land even though purchaser purchased the property with an intention of selling it for non-agricultural purposes - AT

  11. Addition made on account of deemed rent - unsold units (Flats) in the hands of builder at the year end - property is used as stock-in-trade - the deemed rent concept...

  12. The assessee sold agricultural land during the year which the Assessing Officer (AO) treated as a capital asset, leading to levy of long-term capital gains tax. The...

  13. Adventure in the nature of trade - 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...

  14. Nature of land sold - agricultural land or capital asset - the land is not subjected to any conversion as non-agricultural land by the assessee or any other concerned...

  15. Exemption u/s 54 – LTCG - Nature of Property sold is housing property or agricultural land - once a door number is allotted to the premises, this itself makes it clear...

 

Quick Updates:Latest Updates