Income Classification Depends on True Nature, Not Book Entries, for Business Income vs. Capital Gains Assessment.
X X X X Extracts X X X X
X X X X Extracts X X X X
....Computation of income - under the head business income OR capital gains - entries in the books or classification of a particular item in the annual accounts does not determine the character of income or asset - HC....




TaxTMI
TaxTMI