https://www.taxtmi.com/caselaws?id=357190 The ITAT partly allowed the appeal, permitting the investment in land to be considered as capital gain with indexation benefit. However, the claimed payment to VLS Capital Ltd was disallowed due to findings of non-genuineness. The judgment underscored the importance of genuine transactions and profit-making intent in determining tax treatment. en-us Tue, 13 Mar 2018 00:00:00 +0530 Mon, 19 Mar 2018 07:27:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357190 The ITAT partly allowed the appeal, permitting the investment in land to be considered as capital gain with indexation benefit. However, the claimed payment to VLS Capital Ltd was disallowed due to findings of non-genuineness. The judgment underscored the importance of genuine transactions and profit-making intent in determining tax treatment. Case-Laws Income Tax Tue, 13 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357190