https://www.taxtmi.com/caselaws?id=233489 The Tribunal dismissed the appeal filed by the Assessing Officer, upholding the First Appellate Authority's decision. The delay in filing the appeal was not condoned due to insufficient explanation. The sale of agricultural land was deemed capital gains, not a trade adventure, as the land was used for agricultural purposes before and after the sale. The Tribunal emphasized the need for concrete evidence to establish a trading intention, ruling that previous court decisions cited were not applicable due to differing facts. en-us Fri, 15 Feb 2013 00:00:00 +0530 Fri, 03 May 2013 08:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233489 The Tribunal dismissed the appeal filed by the Assessing Officer, upholding the First Appellate Authority's decision. The delay in filing the appeal was not condoned due to insufficient explanation. The sale of agricultural land was deemed capital gains, not a trade adventure, as the land was used for agricultural purposes before and after the sale. The Tribunal emphasized the need for concrete evidence to establish a trading intention, ruling that previous court decisions cited were not applicable due to differing facts. Case-Laws Income Tax Fri, 15 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233489