Tag Archives: IT APPEAL NOS. 4094 OF 2013 & 2279 (MUM.) OF 2015

Sale of land taxable as capital gains even if depreciation claimed on quarters built on it : ITAT Mumbai

By | July 16, 2018

Issue  Property sold by the assessee comprises of staff quarters on which assessee had claimed depreciation. As per Assessing officer , it has to be treated as short term capital gain as per Section 50(1) of the Act It is the claim of the assessee that the property sold is land, hence it has to… Read More »