https://www.taxtmi.com/caselaws?id=402630 The Tribunal dismissed both the revenue's appeal and the assessee's cross objection, upholding the CIT(A)'s decision that the profit on the sale of land should not be treated as business income. The Tribunal emphasized the importance of assessing the intention and nature of income, highlighting the need for a thorough examination of facts and evidence in determining income classification, particularly in cases involving asset sales like land. en-us Wed, 16 Dec 2020 00:00:00 +0530 Fri, 08 Jan 2021 10:19:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402630 The Tribunal dismissed both the revenue's appeal and the assessee's cross objection, upholding the CIT(A)'s decision that the profit on the sale of land should not be treated as business income. The Tribunal emphasized the importance of assessing the intention and nature of income, highlighting the need for a thorough examination of facts and evidence in determining income classification, particularly in cases involving asset sales like land. Case-Laws Income Tax Wed, 16 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402630