Exp. incurred on converting land from leasehold to freehold to be treated as cost of improvement: ITAT

INCOME TAX : Where assessee owner/inherent-lessee of a leased land entered into an agreement to sell said land and there was a clear condition in agreement to sale that said land should be converted by assessee from leasehold into freehold to perfect ownership title of buyer in land and agreed sale consideration was inclusive of amount of freehold conversion charges,INCOME TAX : Where assessee owner/inherent-lessee of a leased land entered into an agreement to sell said land and there was a clear condition in agreement to sale that said land should be converted by assessee from leasehold into freehold to perfect ownership title of buyer in land and agreed sale consideration was inclusive of amount of freehold conversion charges,www.taxmann.com Latest Case LawsRead More

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