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Income Tax - Highlights / Catch Notes

Home Highlights May 2022 Year 2022 This

Gain on sale of plot - capital Income or business income - ...

Income Tax

May 26, 2022

Gain on sale of plot - capital Income or business income - assessee is engaged in the business of real estate on part-time basis - the transaction undertaken qualifies as ‘adventure in the nature of trade’ and hence provisions of section 50C would not apply to the instant set of facts. - AT

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