https://www.taxtmi.com/caselaws?id=331570 The Tribunal concluded that the sale proceeds from the flats should be treated as capital gains rather than business income. It found that the assessee's actions, including holding the property for over 15 years, treating part of it as an investment, and capitalizing interest charges, indicated an intention for long-term capital appreciation. The High Court upheld this decision, dismissing all appeals and emphasizing the significance of factors such as intention, treatment in accounts, and holding duration in determining the nature of income. en-us Tue, 14 Jun 2016 00:00:00 +0530 Sat, 27 Aug 2016 12:31:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331570 The Tribunal concluded that the sale proceeds from the flats should be treated as capital gains rather than business income. It found that the assessee's actions, including holding the property for over 15 years, treating part of it as an investment, and capitalizing interest charges, indicated an intention for long-term capital appreciation. The High Court upheld this decision, dismissing all appeals and emphasizing the significance of factors such as intention, treatment in accounts, and holding duration in determining the nature of income. Case-Laws Income Tax Tue, 14 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331570