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        Case ID :
        Income Tax

        Long term capital gain arising from transaction of sale of...

        Healthcare Company Gains from JDA; Land Not Stock-In-Trade, Section 45(2) Inapplicable; Indexation Up to AY 2011-12 Allowed.

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                Long term capital gain arising from transaction of sale of rights as per Joint Development Agreement (JDA) - Assessee company is in the healthcare business and not in business related to real estate and as such it cannot be said that assessee, by entering into the Joint Development Agreement, has converted the land into its stock-in-trade. Therefore, we have no hesitation in holding that there is no scope of applicability of section 45(2) of the Act to the facts of the present case. - the assessing officer is directed to allow the benefit of indexation of cost of acquisition till AY 2011-12 i.e. the year of assessment of capital gain - AT
                                Note: It is a system-generated summary and is for quick reference only.
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