May 2005

Sec. 2(13), Sec. 2(14)

Allahabad H.C : Whether, on the facts and in the circumstances of the case, the Hon’ble Tribunal was legally justified in confirming the view of the learned CIT(A) who held that the profit arising from the sale of land was not an adventure in the nature of trade and further in directing the AO to treat the receipt of Rs. 21,30,173 during the year and balance being receipts in the subsequent year as capital gains ?

High Court Of Allahabad CIT vs. Mohakampur Ice & Cold Storage Sections 2(13), 2(14), 45 Asst. Year 1986-87 R.K. Agrawal

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