https://www.taxtmi.com/caselaws?id=331524 The High Court ruled in favor of the assessee, determining that the sale of land should be treated as a capital gain rather than business income. The Court found that the land was purchased long ago and sold in two parts to the same party without prior sales, indicating it was not a business venture. As a result, the appeal was allowed, overturning the previous decisions without costs awarded. en-us Wed, 13 Jul 2016 00:00:00 +0530 Thu, 22 Dec 2016 22:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331524 The High Court ruled in favor of the assessee, determining that the sale of land should be treated as a capital gain rather than business income. The Court found that the land was purchased long ago and sold in two parts to the same party without prior sales, indicating it was not a business venture. As a result, the appeal was allowed, overturning the previous decisions without costs awarded. Case-Laws Income Tax Wed, 13 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331524