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Income Tax - Highlights / Catch Notes

Home Highlights May 2017 Year 2017 This

Capital gains - development agreement - transfer of property or ...


Builders as Licensees Not Vendors in Sale Deeds; Capital Gains Tax Liability Remains Without Power of Attorney.

May 2, 2017

Case Laws     Income Tax     AT

Capital gains - development agreement - transfer of property or not - If the builder was merely a licence he would not derive any interest in the subject property and would not be referred as vendor in the sale deeds. It is immaterial that Power of Attorney was not executed - transfer is liable for capital gains - AT

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