22 November 2012
Development Agreement on Revenue Sharing Basis. Landlord introduced his land and developer developes the same. And developer will give certain percentage of his receipts to landlord. Whether cost of sale of land will be treated as capital gain and balance receipts as business income.
23 November 2012
This is the case of of conversion of capital asset in to stock in trade. hence on the date of enetering in to the agreement capital gain will be applicable taking market value as sale consideration. the same will be cost for the business of development. receipt above that value will be business Income.
CAclubindia
