https://www.taxtmi.com/caselaws?id=366413 The Tribunal upheld the Assessing Officer's decision to treat profits from the sale of land as business income rather than capital gains. The Tribunal considered the assessee's involvement in a development project and the intent to fetch better prices, concluding that the activities constituted a business venture. Additionally, the disallowances made under Section 14A of the Income Tax Act were confirmed for the relevant assessment years. The Tribunal emphasized the need to assess the overall nature of the activities and factors involved in determining the income classification. en-us Tue, 28 Aug 2018 00:00:00 +0530 Tue, 04 Sep 2018 08:12:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366413 The Tribunal upheld the Assessing Officer's decision to treat profits from the sale of land as business income rather than capital gains. The Tribunal considered the assessee's involvement in a development project and the intent to fetch better prices, concluding that the activities constituted a business venture. Additionally, the disallowances made under Section 14A of the Income Tax Act were confirmed for the relevant assessment years. The Tribunal emphasized the need to assess the overall nature of the activities and factors involved in determining the income classification. Case-Laws Income Tax Tue, 28 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366413