https://www.taxtmi.com/caselaws?id=177122 The HC dismissed the revenue's appeal and upheld the CIT(A) and ITAT, holding the sale of agricultural land to be chargeable as capital gain, not business income. The court found the land was held for about two decades, used for agriculture, and no enhancements were made to suggest trading intent; piecemeal sales did not establish a business purpose. Applying Supreme Court principles on intention at the time of acquisition and nature of transactions, the classification as capital gain was affirmed. en-us Wed, 04 Mar 2009 00:00:00 +0530 Wed, 03 Sep 2025 14:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177122 The HC dismissed the revenue's appeal and upheld the CIT(A) and ITAT, holding the sale of agricultural land to be chargeable as capital gain, not business income. The court found the land was held for about two decades, used for agriculture, and no enhancements were made to suggest trading intent; piecemeal sales did not establish a business purpose. Applying Supreme Court principles on intention at the time of acquisition and nature of transactions, the classification as capital gain was affirmed. Case-Laws Income Tax Wed, 04 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177122