Friday, June 6, 2014

[aaykarbhavan] Sales of commercial complexes after construction is commercial activity; resultant gains are business receipts




Sales of commercial complexes after construction is commercial activity; resultant gains are business receipts

June 7, 2014[2014] 45 taxmann.com 208 (Gujarat)
IT: Where assessee, a co-operative society, engaged in purchase and sale of agricultural implements, demolished its office and godown to construct shops with a view to reduce accumulated losses, profit on sale of shops was rightly treated as business income
 
Regards
Prarthana Jalan


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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>


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