Any high court or supreme court judgment regarding land converted into house plots and sold can be treated as business income
1 Replies
rama krishnan
(12239 Points)
Replied 20 November 2019
There's no necessity for any case laws bcoz as per section 45(2) any capital asset converted into plots and the subsequent sale of the same Will be construed as adventure in the nature of trade and business and the profits from the same will be treated as business income
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