https://www.taxtmi.com/caselaws?id=290877 The Income Tax Appellate Tribunal (ITAT) upheld the decision that income from the sale of land should be classified as Business Income, not Long Term Capital Gain. The appellant's continuous trading activities and profit-making intention in land transactions led to this classification, supported by legal precedents and the nature of the transactions. Despite the appellant's argument regarding the initial agricultural purpose of the lands, the ITAT emphasized the pattern of trading in land and dismissed the appeal. en-us Tue, 30 Apr 2013 00:00:00 +0530 Tue, 20 Oct 2020 13:45:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290877 The Income Tax Appellate Tribunal (ITAT) upheld the decision that income from the sale of land should be classified as Business Income, not Long Term Capital Gain. The appellant's continuous trading activities and profit-making intention in land transactions led to this classification, supported by legal precedents and the nature of the transactions. Despite the appellant's argument regarding the initial agricultural purpose of the lands, the ITAT emphasized the pattern of trading in land and dismissed the appeal. Case-Laws Income Tax Tue, 30 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290877