Any high court or supreme court judgment regarding land converted into house plots and sold can be treated as business income
Menu
SALE OF PLOTS BUSINESS
Replies (1)
There's no necessity for any case laws bcoz as per section 45(2) any capital asset converted into plots and the subsequent sale of the same Will be construed as adventure in the nature of trade and business and the profits from the same will be treated as business income
Recent Threads
- Foreign Dividend earn
- TDS on Salary deducted but not paid by the employe
- GST INVOICE NOT SHOWN IN GSTR 1
- Turnover in AIS summary
- How to treat unutilised capital gain account schem
- What to do / how to handle about Capital receipt s
- How to show SGB interest in iTR
- How to file income tax return of ATM franchisee bu
- ITR Filing in case of deceased person
- Stuck with Schedule FSI in ITR 3
Related Threads
CAclubindia
