Case Law Details
Case Name : Commissioner Of Income Tax-II Vs M/S Kan Construction And Colonizers (P) Ltd. (Allahabad High Court)
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All High Courts Allahabad High Court
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The Commissioner of Income-tax (Appeals) and the Tribunal on analysis of the facts of the case have reached to the conclusion that section 50C has no application as it was a case of transfer of plots which was stock in trade. An income earned from such transaction is liable to be taxed as income from business activity.
Allahabad High Court
INCOME TAX APPEAL DEFECTIVE No. – 1 of 2012
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