TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Highlights
of of All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of The ITAT Hyderabad addressed the issue of determining the correct head of income for gains on the sale of property, whether it should be classified as business income or capital gains based on the intention of the assessee. The tribunal emphasized the importance of consistency in applying decisions across connected assessees with similar Joint Development Agreements (JDA). The tribunal held that if a co-ordinate Bench had previously ruled in favor of an assessee with rights from the same JDA, the principle should be applied uniformly unless there is a change in law or facts. The Revenue's inconsistent treatment of assessees in similar situations was deemed unacceptable, as it goes against the principle of certainty and fairness in tax law. The tribunal also upheld the CIT(A)'s decision to treat the income as long-term capital gains, in line with the co-ordinate Bench's reasoning and circulars issued by the Revenue.
TaxTMI 
TaxTMI 
