https://www.taxtmi.com/caselaws?id=244051 The Tribunal ruled in favor of the assessee, holding that the sum of Rs.One crore received under a Sale Deed should be treated as long term capital gain and not business income. The Tribunal found that the Assessing Officer had adequately considered the issue, and there was no justification for the CIT's intervention under section 263 of the Income-tax Act, 1961. Consequently, the Tribunal quashed the CIT's order and allowed the appeal by the assessee. en-us Fri, 07 Feb 2014 00:00:00 +0530 Mon, 17 Feb 2014 19:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244051 The Tribunal ruled in favor of the assessee, holding that the sum of Rs.One crore received under a Sale Deed should be treated as long term capital gain and not business income. The Tribunal found that the Assessing Officer had adequately considered the issue, and there was no justification for the CIT's intervention under section 263 of the Income-tax Act, 1961. Consequently, the Tribunal quashed the CIT's order and allowed the appeal by the assessee. Case-Laws Income Tax Fri, 07 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244051