https://www.taxtmi.com/highlights?id=57772 Capital gain on sale of land - nature of land sold - once the amendment to the above statutory provision came vide Finance Act, 2013 w.e.f. 01-04-2014 the assessee’s case would continue to be governed by the earlier un-amended provisions as we are in AY.2011-12. This is also not the Revenue’s stand that assessee’s land(s) deserved to be treated as a capital asset as per the unamended proviso since covered by any notification issued in this behalf from the Central Government. - AT en-us Thu, 29 Apr 2021 15:19:09 +0530 Thu, 29 Apr 2021 15:19:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=57772 Capital gain on sale of land - nature of land sold - once the amendment to the above statutory provision came vide Finance Act, 2013 w.e.f. 01-04-2014 the assessee’s case would continue to be governed by the earlier un-amended provisions as we are in AY.2011-12. This is also not the Revenue’s stand that assessee’s land(s) deserved to be treated as a capital asset as per the unamended proviso since covered by any notification issued in this behalf from the Central Government. - AT Highlights Income Tax Thu, 29 Apr 2021 15:19:09 +0530 https://www.taxtmi.com/highlights?id=57772