Order u/s 254 on Land Sale Gains Recalled for Clarity on Business Income vs. Capital Gain Assessment.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Rectification u/s 254 - Gain on sale of land - ambiguity found in the order which nowhere clearly speaks about the fact that the gain arising out of selling of flat is liable to be assessed as business income or long term capital gain - order recalled....