https://www.taxtmi.com/caselaws?id=209410 The Tribunal ruled in favor of the assessee in both issues. It held that the security deposits for freezers did not accrue as income in the year of receipt, aligning with the assessee's accounting method. Additionally, it classified the sale proceeds of land as capital gains, not business income, considering the asset treatment and intention behind the sale. The Tribunal's decision was supported by the nature of transactions and relevant legal precedents, allowing the assessee's appeals. en-us Sat, 12 Feb 2011 00:00:00 +0530 Mon, 22 Jul 2013 12:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209410 The Tribunal ruled in favor of the assessee in both issues. It held that the security deposits for freezers did not accrue as income in the year of receipt, aligning with the assessee's accounting method. Additionally, it classified the sale proceeds of land as capital gains, not business income, considering the asset treatment and intention behind the sale. The Tribunal's decision was supported by the nature of transactions and relevant legal precedents, allowing the assessee's appeals. Case-Laws Income Tax Sat, 12 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209410