Section 2(14) Clarifies Business-Linked Property Can Be 'Capital Asset', Taxable as 'Capital Gains' Upon Sale.

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....Section 2(14) stipulates that property can be ‘capital asset’ even if connected with business of the assessee. - land/properties were held by the assessee as ‘capital assets’ before its sale and consequential gains arising on sale thereto is chargeable under the head ‘capital gains’.....