https://www.taxtmi.com/caselaws?id=253744 The Tribunal dismissed the Revenue's appeal, affirming that the income from the land sale was assessable in the hands of VEPL, not the assessee. The decision was based on the ownership evidence, treatment of the transaction as business income, and applicability of Section 50C. The Tribunal found no reason to interfere with the CIT(A)'s well-supported conclusion, in line with the precedent set in a co-owner's case. en-us Thu, 30 Oct 2014 00:00:00 +0530 Wed, 03 Dec 2014 10:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253744 The Tribunal dismissed the Revenue's appeal, affirming that the income from the land sale was assessable in the hands of VEPL, not the assessee. The decision was based on the ownership evidence, treatment of the transaction as business income, and applicability of Section 50C. The Tribunal found no reason to interfere with the CIT(A)'s well-supported conclusion, in line with the precedent set in a co-owner's case. Case-Laws Income Tax Thu, 30 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253744