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Tax on Sale of land which was leased for a very long period

Where assessee had transferred land owned by it to lessee for a long period but subsequently when the lessee company went into liquidation had transferred lease right, the same was taxable under the head Capital gains instead of Income from other sources because even though the land was transferred for a long period, the actual ownership of the land remained with assessee.



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Tax on Sale of land which was leased for a very long period

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