Land held as stock-in-trade: amendment adds qualifying explanation for stock-in-trade land treatment under wealth-tax law Amendment inserts qualifying wording into the Explanation to clause (ea) of section 2 of the Wealth-tax Act to clarify that land acquired and held as ... Summary
Land held as stock-in-trade: amendment adds qualifying explanation for stock-in-trade land treatment under wealth-tax law
Amendment inserts qualifying wording into the Explanation to clause (ea) of section 2 of the Wealth-tax Act to clarify that land acquired and held as stock-in-trade for the specified holding period is encompassed by the Explanation and thereby treated under its terms.
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