https://www.taxtmi.com/caselaws?id=240088 The Tribunal upheld the decision that the land in question was a capital asset within the meaning of the Income-tax Act and that the profits from its sale should be treated as capital gains, not business income. The Tribunal dismissed both the appeals, affirming the Commissioner of Income Tax (Appeals)'s findings that the land was held as an investment and not for trading purposes, thus subject to capital gains taxation. en-us Thu, 31 Jan 2013 00:00:00 +0530 Mon, 25 Nov 2013 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240088 The Tribunal upheld the decision that the land in question was a capital asset within the meaning of the Income-tax Act and that the profits from its sale should be treated as capital gains, not business income. The Tribunal dismissed both the appeals, affirming the Commissioner of Income Tax (Appeals)'s findings that the land was held as an investment and not for trading purposes, thus subject to capital gains taxation. Case-Laws Income Tax Thu, 31 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240088