Fair market value under section 50C must reflect existing property condition, not hypothetical development, and statutory valuation steps must be foll...
Income from sale of land – Business income OR Capital gain – there was no business activity and the land was sold during the year on which income had been derived could not be considered to be a business activity - HC
Income from sale of land – Business income OR Capital gain – there was no business activity and the land was sold during the year on which income had been derived could not be considered to be a business activity - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
