Sum received for relinquishment of right of ownership in land liable to capital gain tax: Apex Court

INCOME TAX : Where assessee, owner of land, entered into agreement with a builder to develop said land, however, later on development agreement could not be executed and, finally a compromise deed was executed between parties in terms of which assessee became ready to relinquish its right of ownership on said land after receiving certain sale consideration from builder, it could be concluded that transaction in question would fall under section 2(47)(ii) and (vi) and thus

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