Case law required

Discussion in 'Tax planning' started by saniya, Feb 25, 2014.

  1. saniya

    saniya Member

    Plz someone give me some a reference of a case law for the following issue: A property dealer's account is showing Advance against propery in assets regarding the booking of a particular property for further dealing rather than showing it in Stock-in-trade,now there is a loss during current FY upon selling of that property and he doesnt want to show it as capital loss because it will have be set off from capital gain, sinc ehe is having a business of property dealing can he take the same loss as "business loss"?.

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