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Capital gains

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16 June 2015 suppose there is two companies A and B co. A co. had a land so co. B give him loan but in return of it A co mortgage land to co.B now co. A is not in a position to repay the loan so co. B acquire the land so what is the tax treatment in the hands of co B
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CA. Sunil Gokhale

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CA. Sunil Gokhale (Expert)
16 June 2015 In the hands of B interest on loan charged by B, if any, will be taxed on due basis. The cost of acquisition of land will be the amount due from A Co. in settlement of which land is taken. There is no capital gain to B.
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