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if, the income from sub letting is offerred as income from other sources, then the rent paid can be claimed by the assesee.

b shanmuganathan

A company proposes to transfer vacant land held by it as current asset into fixed asset during the year.

Whether, the market value (value u/s 50C) and the cost will be taxed as income from business?

If yes, when ? whether during the current year or at the time sale of asset?

thanks & regards
b shanmuganathan