Ultimate Law Resources : Database for Lawyers
(1) Any profits or gains arising from the transfer of a capital asset shall be chargeable under the head "Capital gains" and shall be deemed to be income of the income year in which the transfer took place. (2) For the purposes of sub-section (1) and section 28 and 29,- (a) "capital asset" does not include- (i) any asset or class of as...
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