Capital gain

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Denesh Goyal (Querist)
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13 February 2014 Due to land restrictions, about purchase of property by non himachali, the assessee took advantage and stated to have sold only superstructure of a hotel property whereas he handed over the possession of entire land and superstructure. whether it is not a case of capital gain u/s 2 (47) of Act and is not a transfer ?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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13 February 2014 well, you can sell the super-structure without selling the land and it would fall under capital gains. however, whether the same is allowed under laws of Himachal Pradesh or not is something that you need to be doubly sure of.

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