Nature of sale of land - adventure in the nature of trade or not ...

Land Sale by Co-Owners Is Capital Gain, Not Business Income: No Trade Adventure in Joint Plot Sale.

August 12, 2018

Case Laws Income Tax AT

Nature of sale of land - adventure in the nature of trade or not - The very fact that each co-owner separately purchases their lands but only combined for the purpose of sale, does not show any element of carrying out any business for joint profits. - To be taxed as capital gain only.

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Nature of sale of land - adventure in the nature of trade or not ...

Land Sale by Co-Owners Is Capital Gain, Not Business Income: No Trade Adventure in Joint Plot Sale.

August 12, 2018

Case Laws Income Tax AT

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