https://www.taxtmi.com/caselaws?id=349770 The Tribunal dismissed the Revenue's appeal, confirming the deletion of the addition on account of long-term capital gain. The Tribunal upheld that the land had been converted into stock-in-trade, resulting in business income rather than short-term capital gain. Additionally, part of the disallowance concerning JVVNL charges was allowed, with the Tribunal partially sustaining the balance due to an infraction of law. The validity of the notice issued under section 148 was not addressed as it became irrelevant in light of the Tribunal's decision on the merits. en-us Wed, 20 Sep 2017 00:00:00 +0530 Wed, 25 Oct 2017 08:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349770 The Tribunal dismissed the Revenue's appeal, confirming the deletion of the addition on account of long-term capital gain. The Tribunal upheld that the land had been converted into stock-in-trade, resulting in business income rather than short-term capital gain. Additionally, part of the disallowance concerning JVVNL charges was allowed, with the Tribunal partially sustaining the balance due to an infraction of law. The validity of the notice issued under section 148 was not addressed as it became irrelevant in light of the Tribunal's decision on the merits. Case-Laws Income Tax Wed, 20 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349770