Capital Gains from Land Sale by Trust Added to Income; Tripartite Agreement Amounts Deemed Government Grants, Not Gains.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Assessment of trust - Addition of capital gains - Capital gain addition on sale of land by the assessee, as per section 45 r.w.s 2(47) to the extent remaining unutilized for charitable purposes u/s 11(1A) - the amounts received under the tripartite agreement as being in the nature of grants from the government which did not accrue during the impugned year and not capital gain earned by the assessee - AT....