https://www.taxtmi.com/highlights?id=65724 Correct head of income - Gain on sale of properties - assessee has not incurred any ‘cost of acquisition’ - consideration for being part of the arrangement to earn profit from transactions involving lands - Since the 90% of the profit arising from these transactions has already been taxed as “Business Income" by the Department. Principles of uniformity demands that the balance 10% also to be taxed as “Business Income” in the hands of the assessee. - AT en-us Tue, 20 Sep 2022 12:25:29 +0530 Tue, 20 Sep 2022 12:43:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=65724 Correct head of income - Gain on sale of properties - assessee has not incurred any ‘cost of acquisition’ - consideration for being part of the arrangement to earn profit from transactions involving lands - Since the 90% of the profit arising from these transactions has already been taxed as “Business Income" by the Department. Principles of uniformity demands that the balance 10% also to be taxed as “Business Income” in the hands of the assessee. - AT Highlights Income Tax Tue, 20 Sep 2022 12:25:29 +0530 https://www.taxtmi.com/highlights?id=65724