https://www.taxtmi.com/caselaws?id=247816 The Tribunal upheld the classification of income from the sale of constructed area/allotted flats as short-term capital gains (STCG), dismissed the assessee's claim for business income treatment, and restored the issue of expense deductions for verification. The Tribunal also ruled in favor of the assessee regarding the inclusion of security deposits in the sale consideration and deleted the enhancements made by the CIT(A) on both the security deposit and additional sale consideration. The Tribunal affirmed the treatment of gains from the transfer of land along with flats as STCG for the relevant assessment year. en-us Fri, 09 May 2014 00:00:00 +0530 Thu, 22 May 2014 16:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247816 The Tribunal upheld the classification of income from the sale of constructed area/allotted flats as short-term capital gains (STCG), dismissed the assessee's claim for business income treatment, and restored the issue of expense deductions for verification. The Tribunal also ruled in favor of the assessee regarding the inclusion of security deposits in the sale consideration and deleted the enhancements made by the CIT(A) on both the security deposit and additional sale consideration. The Tribunal affirmed the treatment of gains from the transfer of land along with flats as STCG for the relevant assessment year. Case-Laws Income Tax Fri, 09 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247816