In view of the frequency of sale of ‘ownership lands’; the fact ...
Income Tax
February 27, 2016
In view of the frequency of sale of ‘ownership lands’; the fact that the same was treated as stock-in-trade and the extent of expenses involved to execute conveyance deeds, maintain its rights and legal and other expenses incurred in this regard, the income from sale of ‘ownership lands’ is to be assessed as ‘business income’- AT
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