Incidence of Tax for Joint Development Agreement is Different from Incidence of Tax for Subsequent Sale of Flats: ITAT [Read Order]

Incidence of Tax - Joint Development Agreement - Different from Incidence of Tax for - Subsequent Sale of Flats - ITAT - TAXSCAN

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has ruled that the tax incidence for joint development agreements differs from the tax incidence for subsequent flat sales and observed that the Assessing Officer had made a fundamental mistake in computing capital gains for assessment year 2013-14 based on the date of sale of…

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