Meaning of Property u/s 56(2)(vii)
This query is : Open
15 February 2017
Is the meaning of property given under Section 56(2)(vii), exhaustive or inclusive?
16 February 2017
"Property" means the following capital asset of the assessee, namely:—
(i) immovable property being land or building or both;
(ii) shares and securities;
(iii) jewellery;
(iv) archaeological collections;
(v) drawings;
(vi) paintings;
(vii) sculptures;
(viii) any work of art; or
(ix) bullion;
So it is exhaustive.
(i) immovable property being land or building or both;
(ii) shares and securities;
(iii) jewellery;
(iv) archaeological collections;
(v) drawings;
(vi) paintings;
(vii) sculptures;
(viii) any work of art; or
(ix) bullion;
So it is exhaustive.
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