Land sold after decade indicates that it was held for investment; profit would be tax under head ‘capital gains’: ITAT

INCOME TAX : Where assessee-developer/builder had sold land after gap of a decade and same was shown as investment in fixed assets in balance sheet from time of acquisition till sale of land, profit arising out of sold land was assessable to tax under head 'capital gains' and thus, exemption claimed under section 54F was to be allowed

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