TREATMENT OF REAL ESTATE BUSINESS

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....REATMENT OF REAL ESTATE BUSINESS<br> Query (Issue) Started By: - SUDHAKAR SIVARAMAN Dated:- 17-7-2024 Last Reply Date:- 21-7-2024 Income Tax<br>Got 1 Reply<br>Income Tax<br>Dear professionals, My cli....

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....ent is a partnership firm doing real estate business by way of buying land and converting in to plots and selling the plots. My doubt is whether income from this activity is Income from Business or un....

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....der capital gain. Pls suggest Reply By Padmanathan Kollengode: The Reply: The query itself suggests that the activity of firm is business of buying and selling land. There must be a recital in the p....

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....artnership deed to this effect. Therefore, it appears that the income would be taxable under the head profit or gains from business/profession. For academic interest, also check COMMISSIONER OF INCOM....

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....E-TAX VERSUS (1) SOHAN KHAN (2) MOHAN KHAN 2008 (4) TMI 142 - RAJASTHAN HIGH COURT: G. VENKATASWAMI NAIDU AND COMPANY VERSUS COMMISSIONER OF INCOME-TAX 1958 (11) TMI 5 - SUPREME COURT<br> Discussion ....

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