https://www.taxtmi.com/caselaws?id=345842 The Tribunal ruled in favor of the assessee, determining that the gains from the sale of land should be treated as Long Term Capital Gains (LTCG) rather than business income. The Tribunal considered factors such as the intention behind holding the land, consistent treatment as an investment in financial records, and payment of wealth tax on the land to support the classification as LTCG. The assessee's appeal was allowed, directing the Assessing Officer to classify the gains under the head "capital gains" as claimed by the assessee. en-us Wed, 17 May 2017 00:00:00 +0530 Fri, 28 Jul 2017 08:29:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345842 The Tribunal ruled in favor of the assessee, determining that the gains from the sale of land should be treated as Long Term Capital Gains (LTCG) rather than business income. The Tribunal considered factors such as the intention behind holding the land, consistent treatment as an investment in financial records, and payment of wealth tax on the land to support the classification as LTCG. The assessee's appeal was allowed, directing the Assessing Officer to classify the gains under the head "capital gains" as claimed by the assessee. Case-Laws Income Tax Wed, 17 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345842