https://www.taxtmi.com/caselaws?id=325491 The Tribunal upheld the CIT(A)'s decision, ruling in favor of the Assessee by categorizing the profit on the sale of land as Long Term Capital Loss under Capital Gains. The Tribunal emphasized the genuine nature of the transaction, the property's classification as a capital asset, and dismissed the revenue's appeal due to lack of evidence regarding property valuation and authenticity of the sale deed. en-us Wed, 20 Jan 2016 00:00:00 +0530 Mon, 21 Mar 2016 01:05:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325491 The Tribunal upheld the CIT(A)'s decision, ruling in favor of the Assessee by categorizing the profit on the sale of land as Long Term Capital Loss under Capital Gains. The Tribunal emphasized the genuine nature of the transaction, the property's classification as a capital asset, and dismissed the revenue's appeal due to lack of evidence regarding property valuation and authenticity of the sale deed. Case-Laws Income Tax Wed, 20 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325491