TMI BlogLong term capital gain arising from transaction of sale of rights as per Joint Development Agreement...Long term capital gain arising from transaction of sale of rights as per Joint Development Agreement (JDA) - Assessee company is in the healthcare business and not in business related to real estate and as such it cannot be said that assessee, by entering into the Joint Development Agreement, has converted the land into its stock-in-trade. Therefore, we have no hesitation in holding that there is no scope of applicability of section 45(2) of the Act to the facts of the present case. - the assess..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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