Capital or revenue expenditure

Assessee "A" is an Individual engaged in the business of construction. Assessee is owner of land which is held as stock in trade having potential of 120000 sq. Ft saleable aera. He was in search of person who is having knowledge of development of big project and also have infrastructure as well as funds say "B" Both the parties "A and B" enter in to partnership to develop the said project in the year 2017. A is going to introduced the land in the firm and B is going to invest funds as well as his infrastructure for development as…

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