https://www.taxtmi.com/caselaws?id=268404 The Court ruled in favor of the Assessee, determining that the income from selling two flats under a collaboration agreement did not constitute an 'adventure in the nature of trade.' The Assessee correctly declared long term capital gains, rejecting the Assessing Officer's classification of the income as business profits. The Court set aside the lower authorities' orders and allowed the Assessee's appeal with no costs. en-us Tue, 17 Nov 2015 00:00:00 +0530 Wed, 25 Nov 2015 10:55:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268404 The Court ruled in favor of the Assessee, determining that the income from selling two flats under a collaboration agreement did not constitute an 'adventure in the nature of trade.' The Assessee correctly declared long term capital gains, rejecting the Assessing Officer's classification of the income as business profits. The Court set aside the lower authorities' orders and allowed the Assessee's appeal with no costs. Case-Laws Income Tax Tue, 17 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268404