https://www.taxtmi.com/caselaws?id=360534 The case involved determining whether income from the sale of plots by a Cooperative Housing Society should be treated as capital gain or business income. The Tribunal concluded that the income should be classified as capital gain, emphasizing the lack of evidence showing the society's involvement in development activities or assumption of risks akin to a business venture. The Tribunal's decision was upheld by the High Court, highlighting the significance of factual evidence and contractual terms in determining the nature of income for tax purposes. en-us Mon, 26 Mar 2018 00:00:00 +0530 Fri, 18 May 2018 09:56:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360534 The case involved determining whether income from the sale of plots by a Cooperative Housing Society should be treated as capital gain or business income. The Tribunal concluded that the income should be classified as capital gain, emphasizing the lack of evidence showing the society's involvement in development activities or assumption of risks akin to a business venture. The Tribunal's decision was upheld by the High Court, highlighting the significance of factual evidence and contractual terms in determining the nature of income for tax purposes. Case-Laws Income Tax Mon, 26 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360534