Capital Gain – Agricultural land purchase for commercial use - ...

Agricultural land sale results in long-term capital loss, eligible for carry forward to offset future gains.

November 20, 2012

Case Laws Income Tax AT

Capital Gain – Agricultural land purchase for commercial use - It was definitely a business asset held as such in the books of the assessee hence, loss on sale of such land would constitute a long term capital loss and would be eligible for carry forward for set off to future years. - AT

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Capital Gain – Agricultural land purchase for commercial use - ...

Agricultural land sale results in long-term capital loss, eligible for carry forward to offset future gains.

November 20, 2012

Case Laws Income Tax AT

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