https://www.taxtmi.com/caselaws?id=12305 The court analyzed various issues related to the taxation of profits from the sale of apartments, including the determination of long-term capital gain, confirmation of profit accrual on the sale of land, classification of the transaction as non-business, and the bifurcation of the sale agreement. After considering the facts, intentions of the assessee, agreements, and legal precedents, the court upheld the decision of the Income-tax Appellate Tribunal regarding the characterization of the profit and the nature of the transaction, emphasizing the importance of assessing each case based on its individual circumstances. en-us Mon, 22 Jul 2002 00:00:00 +0530 Sun, 21 Feb 2010 11:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12305 The court analyzed various issues related to the taxation of profits from the sale of apartments, including the determination of long-term capital gain, confirmation of profit accrual on the sale of land, classification of the transaction as non-business, and the bifurcation of the sale agreement. After considering the facts, intentions of the assessee, agreements, and legal precedents, the court upheld the decision of the Income-tax Appellate Tribunal regarding the characterization of the profit and the nature of the transaction, emphasizing the importance of assessing each case based on its individual circumstances. Case-Laws Income Tax Mon, 22 Jul 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12305