Friday, February 22, 2013

Income from reliquishment of right in property is capital gain


Income from relinquishment of right in property is capital gain

The decision in J.K. Kashyap v. Asstt. CIT [2008] 302 ITR 255 is an authority for the proposition that even when an assessee becomes entitled to an undefined and undivided share in a property, through an agreement, which he later relinquishes, the gain has to be assessed as income from capital...





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