https://www.taxtmi.com/caselaws?id=63151 The Tribunal upheld the CIT(A)'s decisions in favor of the assessee, dismissing the Department's appeal. The first issue involved the classification of expenditure as capital or revenue, with the Tribunal determining it to be revenue in nature as it did not result in the creation of a capital asset. On the second issue, the Tribunal agreed with the CIT(A) that the income should be treated as capital gains rather than "Income from other sources," emphasizing the asset's capital nature. en-us Mon, 04 May 1987 00:00:00 +0530 Fri, 28 Jan 2011 10:55:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63151 The Tribunal upheld the CIT(A)'s decisions in favor of the assessee, dismissing the Department's appeal. The first issue involved the classification of expenditure as capital or revenue, with the Tribunal determining it to be revenue in nature as it did not result in the creation of a capital asset. On the second issue, the Tribunal agreed with the CIT(A) that the income should be treated as capital gains rather than "Income from other sources," emphasizing the asset's capital nature. Case-Laws Income Tax Mon, 04 May 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63151