https://www.taxtmi.com/caselaws?id=373517 Land transaction characterisation depends on the assessee's intention and the surrounding circumstances, including the manner of acquisition, development arrangement and short holding period. On those facts, the land was treated as a business asset intended for commercial exploitation, so capital gains treatment and section 50C did not apply; the addition was deleted. For cash deposits, the assessee failed to dislodge the first appellate finding, which had already accepted part of the explanation and sustained only the balance. That factual conclusion was left undisturbed, and the addition of Rs. 6,00,000 was sustained, giving the assessee only partial relief. en-us Mon, 08 Oct 2018 00:00:00 +0530 Tue, 15 Jan 2019 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373517 Land transaction characterisation depends on the assessee's intention and the surrounding circumstances, including the manner of acquisition, development arrangement and short holding period. On those facts, the land was treated as a business asset intended for commercial exploitation, so capital gains treatment and section 50C did not apply; the addition was deleted. For cash deposits, the assessee failed to dislodge the first appellate finding, which had already accepted part of the explanation and sustained only the balance. That factual conclusion was left undisturbed, and the addition of Rs. 6,00,000 was sustained, giving the assessee only partial relief. Case-Laws Income Tax Mon, 08 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373517