https://www.taxtmi.com/caselaws?id=389055 The court dismissed the appeal, ruling that the income from the sale of the gala should be treated as capital gains, not business income, as ownership had passed to the Appellant. The court also found that the valuation of the gala was not referred to the Valuation Officer during the proceedings, and expenses in the cost of construction were disallowed due to lack of confirmation from all relevant parties. The lower authorities' decisions were upheld, with the court determining that no substantial legal question arose from the issues raised by the Appellant. en-us Mon, 18 Nov 2019 00:00:00 +0530 Fri, 29 Nov 2019 11:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389055 The court dismissed the appeal, ruling that the income from the sale of the gala should be treated as capital gains, not business income, as ownership had passed to the Appellant. The court also found that the valuation of the gala was not referred to the Valuation Officer during the proceedings, and expenses in the cost of construction were disallowed due to lack of confirmation from all relevant parties. The lower authorities' decisions were upheld, with the court determining that no substantial legal question arose from the issues raised by the Appellant. Case-Laws Income Tax Mon, 18 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389055