Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2010 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2010 (10) TMI 65 - HC - Income TaxSociety registered under the Societies Registration Act, 1860 - income applied during the assessment year under the head "Purchase of Land", but in the schedule for fixed assets, there was no addition to land - Held that: - amount paid by the assessee to Mr. Manjeet Singh was towards acquisition of a capital asset in accordance with Section 11 of the Act as on receipt of money, Mr. Manjeet Singh had not only handed over peaceful and vacant possession of the property to the assessee but had also executed an irrevocable General Power of Attorney in assessee's favour - Appeal is dismissed
|