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Income Tax

Sale of factory land at Guindy, Chennai - Capital Gain OR...

Chennai Factory Land Sale: Classification as Capital Gain or Business Profit Hinges on Concrete Evidence, Not Distant Circumstances.

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Income TaxMarch 15, 2016Case LawsAT

Sale of factory land at Guindy, Chennai - Capital Gain OR business profit - without bringing any material on record merely based on some remote circumstances, an inference cannot be drawn that the Assessees indulged in an adventure in the nature of business or trade. - AT

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