06 August 2010
Dear Experts, If an Assessee purchases land and holds himself for more than 3 years or less than 3 years and sells it as (1) Plots (2) himself builds building and let it out to tenants. (3) Keeps certain land as stock in trade.
In the above case whether such assessee income has to be shown as Business Income or Capital Gain.
It is very urgent sir.
Please provide me or give the link for the relevant section or case law or notification because i have to satisfy my senior whatever answer i give.
CAclubindia
