Taxability of sale of land and consideration in kind

Assessee is private limited co , engaged in the business of construction and development of real estate project. the co hold two lands one is considered as stock in trade and another land is shown as investment which was purchased eight years bank. Now assessee co has decided to sold both the lands and accordingly executed the conveyance deed  against the consideration to be received in form of constructed area after 24 months.  The assesee co has also hand over the possession of the said land to the buyer of the land. consultant of the Purchaser is saying the tax…

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