Allowing the appeal of the assessee the Tribunal held that, compensation received on acquisition of land is assessable as long term capital gains and on Hotel building as short term capital gains. ( AY. 2008 -09)
Het Ram Sharma. v. ITO (2018) 172 ITD 324 (Chd) (Trib.)
S.45: Capital gains- Land -On acquisition of land on which there was a hotel, part of compensation related to land would be subject to Long term capital gains and that on hotel building assessable as short term capital gains. [ S.54 ]