https://www.taxtmi.com/caselaws?id=373696 The High Court upheld the Tribunal's decision that profits from the sale of apartments were capital gains, not business income. The Court found the initial purchase was for investment, not resale for profit, supporting the capital gains classification. The Revenue's appeal was dismissed as lacking merit, with the Court emphasizing the absence of evidence showing the property was bought with a profit motive. en-us Wed, 02 Jan 2019 00:00:00 +0530 Fri, 18 Jan 2019 08:10:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373696 The High Court upheld the Tribunal's decision that profits from the sale of apartments were capital gains, not business income. The Court found the initial purchase was for investment, not resale for profit, supporting the capital gains classification. The Revenue's appeal was dismissed as lacking merit, with the Court emphasizing the absence of evidence showing the property was bought with a profit motive. Case-Laws Income Tax Wed, 02 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373696