https://www.taxtmi.com/caselaws?id=254508 The court dismissed the appeal, affirming the Tribunal's decision that the income of Rs. 5,71,03,487 from the sale of a property should be treated as Long Term Capital Gain rather than business income for Assessment Year 2007-08. The court emphasized the lack of substantial business activities by the Assessee over an extended period, supporting the view that the property was held for investment purposes. The appeal was deemed without merit as no significant legal issues were raised, and the Tribunal's findings were upheld. en-us Fri, 12 Dec 2014 00:00:00 +0530 Wed, 24 Dec 2014 22:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254508 The court dismissed the appeal, affirming the Tribunal's decision that the income of Rs. 5,71,03,487 from the sale of a property should be treated as Long Term Capital Gain rather than business income for Assessment Year 2007-08. The court emphasized the lack of substantial business activities by the Assessee over an extended period, supporting the view that the property was held for investment purposes. The appeal was deemed without merit as no significant legal issues were raised, and the Tribunal's findings were upheld. Case-Laws Income Tax Fri, 12 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254508