https://www.taxtmi.com/caselaws?id=255450 The Tribunal upheld the CIT(A)'s decision in dismissing the Revenue's appeal. The income from the sale of plots at Kondhwa was correctly assessed as 'capital gains' rather than 'business income'. Additionally, the Tribunal agreed with the CIT(A) in deleting the addition of Rs. 31,27,500/- related to an advance from M/s. Mantri Construction, as the transaction did not constitute a 'transfer' under the Income-tax Act. The Tribunal's decision was pronounced on 31st December 2014. en-us Wed, 31 Dec 2014 00:00:00 +0530 Sat, 17 Jan 2015 09:53:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255450 The Tribunal upheld the CIT(A)'s decision in dismissing the Revenue's appeal. The income from the sale of plots at Kondhwa was correctly assessed as 'capital gains' rather than 'business income'. Additionally, the Tribunal agreed with the CIT(A) in deleting the addition of Rs. 31,27,500/- related to an advance from M/s. Mantri Construction, as the transaction did not constitute a 'transfer' under the Income-tax Act. The Tribunal's decision was pronounced on 31st December 2014. Case-Laws Income Tax Wed, 31 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255450