Surrender of Allotment Right in Immovable Property Constitutes Transfer of Capital Asset Generating Capital Gains
Surrender of Allotment Right in Immovable Property Constitutes Transfer of Capital Asset Generating Capital Gains Issue Whether the right to obtain conveyance of an immovable property under an allotment letter constitutes a “capital asset” under Section 2(14) of the Income-tax Act, and whether compensation received upon its surrender constitutes a “transfer” under Section 2(47), making… Read More »