https://www.taxtmi.com/caselaws?id=216311 The Tribunal dismissed both appeals challenging the CIT(A) orders for the assessment years 2007-08 and 2008-09, upholding the orders and emphasizing the business nature of the appellant's activities. The appellant's arguments against the treatment of income as business income instead of capital gains were rejected, with the Tribunal supporting the Assessing Officer's decisions based on the purchase and sale pattern of plots. The Tribunal also upheld the disallowance of expenses on land development due to lack of substantiating evidence. The judgment was delivered on June 21, 2012, in Chennai. en-us Thu, 21 Jun 2012 00:00:00 +0530 Tue, 21 Aug 2012 17:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216311 The Tribunal dismissed both appeals challenging the CIT(A) orders for the assessment years 2007-08 and 2008-09, upholding the orders and emphasizing the business nature of the appellant's activities. The appellant's arguments against the treatment of income as business income instead of capital gains were rejected, with the Tribunal supporting the Assessing Officer's decisions based on the purchase and sale pattern of plots. The Tribunal also upheld the disallowance of expenses on land development due to lack of substantiating evidence. The judgment was delivered on June 21, 2012, in Chennai. Case-Laws Income Tax Thu, 21 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216311