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Income Tax - Highlights / Catch Notes

Home Highlights June 2022 Year 2022 This

Revision u/s 263 by CIT - Capital gain computation - where the ...

Income Tax

June 28, 2022

Revision u/s 263 by CIT - Capital gain computation - where the purchase of land & building and sale of land & building are covered under a single deed of purchase & sale, the calculation made by the ld. AO showing short term capital gain which has been valued in detail by the ld. AO, in our considered view, the order of the ld. AO is not prejudicial to the interests of the Revenue.- AT

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  2. Revision u/s 263 - Nature of capital gain - On going through the copy of the purchase deed of the said land, we find that direct possession of the land in question had...

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