https://www.taxtmi.com/caselaws?id=177918 The tribunal determined that the income from the sale of land was classified as long-term capital gains, not business income, as the land was held as an asset for investment purposes. Consequently, the deduction claimed under section 54F of the Act was not applicable. The tribunal also upheld the decision to treat certain trading additions as bogus purchases based on the past history of the assessee. The appeal was partly allowed, and the tribunal's decision was pronounced on 30-01-2014. en-us Thu, 30 Jan 2014 00:00:00 +0530 Mon, 08 Aug 2022 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177918 The tribunal determined that the income from the sale of land was classified as long-term capital gains, not business income, as the land was held as an asset for investment purposes. Consequently, the deduction claimed under section 54F of the Act was not applicable. The tribunal also upheld the decision to treat certain trading additions as bogus purchases based on the past history of the assessee. The appeal was partly allowed, and the tribunal's decision was pronounced on 30-01-2014. Case-Laws Income Tax Thu, 30 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177918