Sale and purchase of agriculture land - adventure in trade - ...

Income Tax

June 15, 2016

Sale and purchase of agriculture land - adventure in trade - Merely because of the fact that the land was sold for profit, it cannot be held that income arising from the sale of land was taxable as profit arising from the adventure in the nature of trade. The period of holding should not suggest that the activity was an adventure in the nature of trade. - AT

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Sale and purchase of agriculture land - adventure in trade - ...

Income Tax

June 15, 2016

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