Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2013 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (8) TMI 82 - HC - Income TaxCapital gain or business income - Ownership of property - Nature of income in the hands of land developer (vendor) - Tribunal held income as capital gain - Held that:- Original agreement between the assessee and the original owners makes no reference to the profession status of the assessee for taking the services of the assessee - when possession was given to the assessee enabling exercise of general control for discharging certain services, in consideration whereof the assessee was to be given 3 grounds of land coupled with the power given to the assessee to sell the 3 grounds, then the receipt would attract capital gains at his hands - Decided against Revenue.
|