TMI BlogNature of sale of land - adventure in the nature of trade or not - The very fact that each co-owner...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. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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