Property gains can be subject to income tax

PUTRAJAYA: The Court of Appeal has ruled that property which has been sold for a profit can be subject to income tax despite being earlier assessed under the real property gains tax (RPGT). 

In a written judgment, Court of Appeal judge Justice Zaleha Zahari said there was no rule of law which precluded the Inland Revenue Board (IRB) from discharging an assessment under the RPGT and later proceed with an assessment under the Income Tax Act (ITA).