https://www.taxtmi.com/caselaws?id=180980 The Tribunal upheld the tax treatment of income from the sale of plots as business income, considering it an adventure in the nature of trade. Regarding the unexplained cash credit issue, the Tribunal estimated a profit element of Rs. 4,50,000 on the Rs. 45 lakhs, directing the AO to tax this amount. The appeal was partly allowed, providing partial relief to the assessee. en-us Fri, 23 Jan 2009 00:00:00 +0530 Tue, 05 Apr 2016 14:31:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180980 The Tribunal upheld the tax treatment of income from the sale of plots as business income, considering it an adventure in the nature of trade. Regarding the unexplained cash credit issue, the Tribunal estimated a profit element of Rs. 4,50,000 on the Rs. 45 lakhs, directing the AO to tax this amount. The appeal was partly allowed, providing partial relief to the assessee. Case-Laws Income Tax Fri, 23 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180980