https://www.taxtmi.com/caselaws?id=63564 The Tribunal upheld the Assessing Officer's decision to treat the gain on the sale of space in Devika Tower as business income, disallow the deduction under section 48, and invoke section 145 to treat the investment as stock-in-trade. The Tribunal emphasized that the consistent sale of space over the years indicated a business activity rather than an investment, supporting the AO's conclusions. en-us Tue, 09 Dec 2003 00:00:00 +0530 Mon, 31 Jan 2011 17:25:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63564 The Tribunal upheld the Assessing Officer's decision to treat the gain on the sale of space in Devika Tower as business income, disallow the deduction under section 48, and invoke section 145 to treat the investment as stock-in-trade. The Tribunal emphasized that the consistent sale of space over the years indicated a business activity rather than an investment, supporting the AO's conclusions. Case-Laws Income Tax Tue, 09 Dec 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63564