https://www.taxtmi.com/caselaws?id=394854 The High Court affirmed the Income Tax Appellate Tribunal's decision to categorize income from the sale of a property as long term capital gains rather than business income. The Court emphasized that the property had been rented out, listed as a capital asset, and lacked evidence of being treated as stock in trade. Based on factual analysis and previous court decisions, the Court ruled in favor of the assessee, dismissing the revenue's appeal. en-us Fri, 28 Feb 2020 00:00:00 +0530 Mon, 27 Apr 2020 11:45:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394854 The High Court affirmed the Income Tax Appellate Tribunal's decision to categorize income from the sale of a property as long term capital gains rather than business income. The Court emphasized that the property had been rented out, listed as a capital asset, and lacked evidence of being treated as stock in trade. Based on factual analysis and previous court decisions, the Court ruled in favor of the assessee, dismissing the revenue's appeal. Case-Laws Income Tax Fri, 28 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394854