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Income Tax - Highlights / Catch Notes

Home Highlights October 2013 Year 2013 This

Agriculture land - capital asset u/s 2(14) - land is situated ...


Agricultural Land in Sujanpur Classified as "Capital Asset" Under Income Tax Act Section 2(14), Subject to Capital Gains Tax.

October 26, 2013

Case Laws     Income Tax     HC

Agriculture land - capital asset u/s 2(14) - land is situated within the municipal limits of Municipal Council, Sujanpur – Therefore, the asset is ‘Capital Asset’ – Liable to be taxed as capital gains - HC

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