https://www.taxtmi.com/caselaws?id=259249 The Court upheld the Income Tax Appellate Tribunal's decision, ruling that income from property transactions should be treated as capital gains, not business income. The assessee, a full-time student not engaged in business activities, acquired the property through settlement and sold it for efficiency, not as part of a business venture. The Court distinguished the case from precedent, emphasizing the lack of a business motive in acquiring the property. The Tribunal's decision was affirmed, rejecting the Revenue's argument and dismissing the tax case appeal. en-us Mon, 20 Apr 2015 00:00:00 +0530 Tue, 05 May 2015 08:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259249 The Court upheld the Income Tax Appellate Tribunal's decision, ruling that income from property transactions should be treated as capital gains, not business income. The assessee, a full-time student not engaged in business activities, acquired the property through settlement and sold it for efficiency, not as part of a business venture. The Court distinguished the case from precedent, emphasizing the lack of a business motive in acquiring the property. The Tribunal's decision was affirmed, rejecting the Revenue's argument and dismissing the tax case appeal. Case-Laws Income Tax Mon, 20 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259249