Capital gains reporting requires furnishing dates of purchase and sale for land or building in income-tax returns. When income from the transfer of land or a building is taxable under the head of Capital Gains, the income-tax return must include the date of purchase and the date of sale of the asset; furnishing both acquisition and transfer dates is mandatory where the transfer generates taxable capital gains.
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Provisions expressly mentioned in the judgment/order text.
Capital gains reporting requires furnishing dates of purchase and sale for land or building in income-tax returns.
When income from the transfer of land or a building is taxable under the head of Capital Gains, the income-tax return must include the date of purchase and the date of sale of the asset; furnishing both acquisition and transfer dates is mandatory where the transfer generates taxable capital gains.
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