https://www.taxtmi.com/caselaws?id=395203 The Tribunal ruled in favor of the assessee, determining that the gains from the sale of properties should be treated as capital gains rather than business income. The assessee was granted exemption under Section 54F for the purchase of a residential house using the capital gains. Additionally, the Tribunal directed the Assessing Officer to allow the full expenditure on property development, emphasizing the importance of adhering to the scope of limited scrutiny and providing proper documentation to support claims. en-us Fri, 20 Mar 2020 00:00:00 +0530 Sat, 09 May 2020 10:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395203 The Tribunal ruled in favor of the assessee, determining that the gains from the sale of properties should be treated as capital gains rather than business income. The assessee was granted exemption under Section 54F for the purchase of a residential house using the capital gains. Additionally, the Tribunal directed the Assessing Officer to allow the full expenditure on property development, emphasizing the importance of adhering to the scope of limited scrutiny and providing proper documentation to support claims. Case-Laws Income Tax Fri, 20 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395203