Excess Area from Land Partition Not Taxable as Business Income u/s 28(iv) of Income Tax Act.

Excess Area from Land Partition Not Taxable as Business Income u/s 28(iv) of Income Tax Act. https://www.taxtmi.com/highlights?id=59316 Gain on sale of land - Addition u/s 28(iv) - excess area of land received in partition - co-ownership in land - asset was shown in the balance sheet as capital asset but not stock in trade - the excess area of land received was not taxable u/s 28(iv) of the Act and there is no loss of revenue- AT en-us Fri, 20 Aug 2021 18:15:24 +0530 Fri, 20 Aug 2021 18:15:24 +0530 TaxTMI RSS Generator Excess Area from Land Partition Not Taxable as Business Income u/s 28(iv) of Income Tax Act. https://www.taxtmi.com/highlights?id=59316 Gain on sale of land - Addition u/s 28(iv) - excess area of land received in partition - co-ownership in land - asset was shown in the balance sheet as capital asset but not stock in trade - the excess area of land received was not taxable u/s 28(iv) of the Act and there is no loss of revenue- AT Highlights Income Tax Fri, 20 Aug 2021 18:15:24 +0530 https://www.taxtmi.com/highlights?id=59316