https://www.taxtmi.com/caselaws?id=354163 The Appeals were adjourned indefinitely pending a fresh determination by the Assessing Officer on the applicability of Section 45(2) of the Income Tax Act. The Tribunal remanded the issue for reevaluation, with both parties accepting this decision. The outcome of this reassessment will impact the classification of income from the sale of plots as either business income or capital gains. Further proceedings are permitted once the Assessing Officer completes the review as directed by the Tribunal. en-us Tue, 09 Jan 2018 00:00:00 +0530 Fri, 19 Jan 2018 08:18:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354163 The Appeals were adjourned indefinitely pending a fresh determination by the Assessing Officer on the applicability of Section 45(2) of the Income Tax Act. The Tribunal remanded the issue for reevaluation, with both parties accepting this decision. The outcome of this reassessment will impact the classification of income from the sale of plots as either business income or capital gains. Further proceedings are permitted once the Assessing Officer completes the review as directed by the Tribunal. Case-Laws Income Tax Tue, 09 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354163