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Income Tax - Highlights / Catch Notes

Home Highlights November 2018 Year 2018 This

Determination of character of income - LTCG or Business income - ...

Income Tax

November 21, 2018

Determination of character of income - LTCG or Business income - commercial intention - assessee, in essence, has sold the land by dividing into pieces of land - gain arising on sale of land cannot be regarded as ‘business income’

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  2. 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....

  3. SSTCG or LTCG - sale of composite factory land, factory building alongwith borewell was sold – consideration received should be bifurcated in respect of each of the...

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  8. Nature of land sold - sale of agricultural land or not - it is nowhere necessary for an assessee to prove carrying out actual agricultural activity of the land

  9. At the relevant point of sale of the land in question, the surrounding area was totally undeveloped and except mere future possibility to put the land into use for...

  10. Nature of land sold - capital asset u/s 2(14) or agricultural land - If the previous owner did not carry out agricultural activity on an agricultural land, however did...

 

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