Transaction cannot be treated as “Real Estate” If Property held for a Long Time: ITAT [Read Order]

Transaction - Real Estate - Property - held for a Long Time- ITAT - Taxscan

The Delhi bench of Income Tax Appellate Tribunal (ITAT) recently held that transactions could not be treated as real estate if property was held for a long time. Assessee Vaijanti Jain, G filed return of income declaring total income of Rs.3, 55,190/ case was selected for scrutiny assessment. After that assessing officer assessee had claimed…

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