https://www.taxtmi.com/caselaws?id=173537 The Tribunal upheld the decision of the ld. CIT(A) to classify the profit on the sale of land as capital gain, not business income, for the assessment year. The sale was considered a capital transaction due to lack of established business activity, previous conduct of the appellant, and nature of income derived from the land. The Tribunal found the computation of Long Term Capital Gain in compliance with the law and dismissed the Revenue's appeal, affirming the decision of the ld. CIT(A). en-us Thu, 16 May 2013 00:00:00 +0530 Thu, 17 Sep 2015 13:01:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173537 The Tribunal upheld the decision of the ld. CIT(A) to classify the profit on the sale of land as capital gain, not business income, for the assessment year. The sale was considered a capital transaction due to lack of established business activity, previous conduct of the appellant, and nature of income derived from the land. The Tribunal found the computation of Long Term Capital Gain in compliance with the law and dismissed the Revenue's appeal, affirming the decision of the ld. CIT(A). Case-Laws Income Tax Thu, 16 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173537