Accrual of income - Since the stock-in-trade has only been ...

Case Laws Income Tax

May 27, 2020

Accrual of income - Since the stock-in-trade has only been contributed and has not been sold during the relevant AY, there is no receipt or accrual of business receipt during the relevant AY. - the authorities below indeed erred in bringing to tax the anticipated business profits on assessee’s entering into a development agreement (JDA) in respect of the land held by the assessee as stock in trade.

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Accrual of income - Since the stock-in-trade has only been ...

Case Laws Income Tax

May 27, 2020

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