Sale of agriculture land after plotting - Business income or ...

Income Tax

October 10, 2018

Sale of agriculture land after plotting - Business income or capital gains - Due to the large size of the land, it was divided and sub-divided and sold to the interested customers. These facts do not exclusively suggest that the entire exercise was to exploit the land commercially in the nature of adventure which is akin to the business.

View Source

← Previous Next →

Sale of agriculture land after plotting - Business income or ...

Income Tax

October 10, 2018

You may also like:

Correct head of income - Business Income or capital gain - assessee decided to sale the agriculture land, due to compulsion, hence assessee cannot be treated as a trader...

Assessment of Long Term Capital Gain U/sec 45(2) - conversion of land as stock-in-trade - sale of land after plotting - The assessee’s claim to compute long term capital...

Capital Gains - sale of agricultural land - scope of capital asset u/s 2(14) - the land was sold as an agricultural land and in fact, what was sold was agriculture land....

Surplus earned on the sale of plot - ‘capital gain‘ OR ‘business income’ - There is no clause in the partnership deed about making investment in the land and to earn...

Penalty u/s 271(1)(c) - profits from sale and purchase of agricultural land shown as capital gain instead of profits and gains from business - No penalty - AT

Sale of agriculture land after converting into plots - once this was an adventure in nature of trade and income is to be taxed as per the provisions of Section 45(2) of...

Income from sale of land - Income from business OR capital gain - object of the assessee to purchase the land to convert into small plots and then sale these small plots...

Applicability of section 50C - Capital gain - Sale of right in land/contingent right - proof of transfer of capital asset - Section 50C is also applicable on lease hold...

Direction of the CIT(A) to assess the development of plots as Short Term Capital Gain on sale of plots - Since assessee is owner of the plots, sale of plots will also be...

Profits arising on sale of land - ‘business income’ OR 'capital gains' - after purchase of land assessee got if converted to NA land - the assessee also got a lay out...

Quick Updates: