https://www.taxtmi.com/caselaws?id=332031 The Tribunal ruled in favor of the assessee, directing the deletion of the addition made by the Assessing Officer and allowing the appeal on the characterization of income earned from the sale of land as capital gain instead of business income. The issue of setting off long term capital loss was remanded back to the AO for further examination, granting the assessee an opportunity to provide necessary details. The Tribunal did not address the jurisdictional validity of orders under sections 143(3) and 263, as the relief was granted on other grounds. en-us Fri, 29 Jul 2016 00:00:00 +0530 Thu, 08 Sep 2016 19:02:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332031 The Tribunal ruled in favor of the assessee, directing the deletion of the addition made by the Assessing Officer and allowing the appeal on the characterization of income earned from the sale of land as capital gain instead of business income. The issue of setting off long term capital loss was remanded back to the AO for further examination, granting the assessee an opportunity to provide necessary details. The Tribunal did not address the jurisdictional validity of orders under sections 143(3) and 263, as the relief was granted on other grounds. Case-Laws Income Tax Fri, 29 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332031