capital assets
This query is : Resolved
28 March 2009
if an assessee purchased plot in (2001) and constructed residential house in (2007). Both plot and residential house are treated as separate assets or one assets for capital gain purpose.
Pls. specify.
if treated as one assets, whether indexation benefits available on improvement/ construction which were done in the year of 2006 & 2007
Pls. specify.
if treated as one assets, whether indexation benefits available on improvement/ construction which were done in the year of 2006 & 2007
28 March 2009
Separate assets for the purpose of capital gains computation.
Answer to 2nd para ,hence, do not arise.
Answer to 2nd para ,hence, do not arise.
Message likes :
1 times
28 March 2009
separate assets
28 March 2009
To support my view I give a citation viz., CIT Vs Dr. D.L.Ramachandra Rao (1999) 236 ITR 51 (Mad).
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