High Court of Bombay at Goa Allows Revenue Appeal in Capital Gains Tax Case — Incomplete Hotel Project Held as Short-Term Capital Asset. The court held that the period of holding of an incomplete building under construction cannot be added to the period of holding of the land for determining long-term capital gains under Section 2(42A) of the Income Tax Act, 1961.
29 Oct 2010The Commissioner of Income Tax appealed against the order of the Income Tax Appellate Tribunal which had held that the profit from sale of an incomple...




