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<h1>ITAT Bombay-D allows appeal on land sale income as capital gain, not business, despite late filing.</h1> The appeal was allowed by ITAT Bombay-D despite being filed after the period of limitation. The tribunal held that the income from the sale of land was a ... - The appeal was admitted by ITAT Bombay-D despite being filed after the period of limitation. The dispute was regarding income from the sale of land, determined at Rs. 30,000, as an adventure in the nature of trade. The tribunal held it was a realization of investment, not a trade adventure. The income, if any, may be charged as a capital gain, not under the head 'business.' The appeal was allowed.
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