https://www.taxtmi.com/caselaws?id=396704 Determination of income from property concerned classification of receipts as business income or long term capital gain. The assessee acquired land, entered an agreement for sale, and continued to hold the land in accounts as an asset without other trading activity; absence of documentary evidence by revenue led the factfinder to treat the receipt as long term capital gain and not business income, with the Tribunals factual appreciation upheld and decision rendered against the revenue. en-us Wed, 29 Jan 2020 00:00:00 +0530 Tue, 13 Jan 2026 16:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396704 Determination of income from property concerned classification of receipts as business income or long term capital gain. The assessee acquired land, entered an agreement for sale, and continued to hold the land in accounts as an asset without other trading activity; absence of documentary evidence by revenue led the factfinder to treat the receipt as long term capital gain and not business income, with the Tribunals factual appreciation upheld and decision rendered against the revenue. Case-Laws Income Tax Wed, 29 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396704