Question

are not a capital assets
under the definition of sec 2(14)
O A house for personal use
Personal scooter
O Vacant land
O Goodwill of a business​

Answer 1

Answer:

We have heard the learned representatives of the parties and perused the record. The crux of the matter under consideration whether under the facts and circumstances of the case under consideration there is transfer of asset and same is liable to capital gains or loss. The case of the revenue is that the assessee was not the owner of the plot therefore there was no transfe