https://www.taxtmi.com/caselaws?id=335463 The Tribunal ruled in favor of the appellant, setting aside the assessment order that treated the gain from relinquishing land rights as business income. The Tribunal emphasized the inconsistency in the Department's treatment of similar cases, noting that other parties involved in comparable transactions were treated differently. The decision highlighted the importance of uniformity in assessing transactions with similar factual backgrounds and concluded that the gain should be assessed as capital gain, aligning with legal precedents and the principle of consistency in treatment. en-us Mon, 21 Nov 2016 00:00:00 +0530 Fri, 02 Dec 2016 21:46:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335463 The Tribunal ruled in favor of the appellant, setting aside the assessment order that treated the gain from relinquishing land rights as business income. The Tribunal emphasized the inconsistency in the Department's treatment of similar cases, noting that other parties involved in comparable transactions were treated differently. The decision highlighted the importance of uniformity in assessing transactions with similar factual backgrounds and concluded that the gain should be assessed as capital gain, aligning with legal precedents and the principle of consistency in treatment. Case-Laws Income Tax Mon, 21 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335463