capital gain land

  • Income Tax

Land sold by plotting held business income not capital gain. Sale was completed within a short period of few months and space was left for streets

Land sold by plotting held to be business income not capital gain as the sale was completed within a short…

8 years ago
  • Income Tax

Penalty u/s 271(1)(c) for mistake of not disclosing Long Term Capital Gain LTCG on the land part comprised in the block of Factory Building sold

In a recent judgment, ITAT Delhi has set aside penalty u/s 271(1)(c) and remanded the matter to CIT(A) for mistake of assessee…

8 years ago