Short term capital gain arising on transfer of premises - ...

Transfer of Leasehold Rights Deemed Capital Gain, Not Business Income, on Building Sale for Appellant.

November 26, 2020

Case Laws Income Tax AT

Short term capital gain arising on transfer of premises - appellant transferred the building premises used for business - the sale consideration can only be treated as transfer of lease hold rights in the land and building. Therefore, it will be assessed under the head ‘Income from capital gains’ and AO has assessed the same by following the provisions of capital gains - Not to be taxed as business income - AT

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Short term capital gain arising on transfer of premises - ...

Transfer of Leasehold Rights Deemed Capital Gain, Not Business Income, on Building Sale for Appellant.

November 26, 2020

Case Laws Income Tax AT

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