https://www.taxtmi.com/caselaws?id=63998 The Tribunal ruled in favor of the assessee, determining that the profit from the sale of interest in flats should be assessed as capital gains rather than business income. The assessee was found eligible for exemption under section 54F of the IT Act, as the flats were incomplete and uninhabitable. Additionally, the Tribunal upheld the allowance of deductions for interest expenditure and collection charges, dismissing the Revenue's appeal. en-us Wed, 24 Sep 1997 00:00:00 +0530 Thu, 03 Feb 2011 10:44:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63998 The Tribunal ruled in favor of the assessee, determining that the profit from the sale of interest in flats should be assessed as capital gains rather than business income. The assessee was found eligible for exemption under section 54F of the IT Act, as the flats were incomplete and uninhabitable. Additionally, the Tribunal upheld the allowance of deductions for interest expenditure and collection charges, dismissing the Revenue's appeal. Case-Laws Income Tax Wed, 24 Sep 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63998