Excess share of land received by assessee in executing of partition deed with co-owner can’t be taxed u/s 28: ITAT

INCOME TAX : Where assessee-firm purchased a land with co-owner and it received an excess share of land in partition of land with co-owner, since said land was purchased as capital asset by assessee and co-owner and it remained as capital asset till its partition and no business activity was carried on same by assessee or co-owner,

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