TMI BlogNature of land - capital asset or stock in trade - assessment u/s 153A - Assessee has declared the plot...Nature of land - capital asset or stock in trade - assessment u/s 153A - Assessee has declared the plot as capital asset - But after search, the same was shown as stock in trade and shown the income as business income - Assessee is not prevented from making a claim to its advantage in the proceedings u/s 153A of the Act unlike u/s 147 of the Act. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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