TMI BlogNature of loss - business loss or short term capital loss - the fact remains that the assessee is...Nature of loss - business loss or short term capital loss - the fact remains that the assessee is engaged in property development business and developing residential projects throughout all preceding assessment years - mere book treatment of the land in issue as a fixed asset cannot form the sole criteria to hold that the same gives rise to capital loss - considered as business loss ..... X X X X Extracts X X X X X X X X Extracts X X X X
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