https://www.taxtmi.com/caselaws?id=327891 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s orders on both issues. The income was treated as Capital gains rather than business income due to the nature of transactions and lack of organized business activities. Additionally, the deduction claimed under Section 24(a) on rental income was allowed as it was deemed mandatory for such income to be taxed as income from house property. en-us Fri, 08 Apr 2016 00:00:00 +0530 Sat, 21 May 2016 12:41:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327891 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s orders on both issues. The income was treated as Capital gains rather than business income due to the nature of transactions and lack of organized business activities. Additionally, the deduction claimed under Section 24(a) on rental income was allowed as it was deemed mandatory for such income to be taxed as income from house property. Case-Laws Income Tax Fri, 08 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327891