Section 2(14) stipulates that property can be ‘capital asset’ ...
Income Tax
July 28, 2017
Section 2(14) stipulates that property can be ‘capital asset’ even if connected with business of the assessee. - land/properties were held by the assessee as ‘capital assets’ before its sale and consequential gains arising on sale thereto is chargeable under the head ‘capital gains’.
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