https://www.taxtmi.com/caselaws?id=409445 The Tribunal upheld the CIT(A)'s decision, classifying profits from the sale of land as "Capital Gains" instead of "Business Income." Additionally, the undisclosed consideration of Rs. 70 lakhs related to a Corporate Box was deemed part of the sale consideration. The Tribunal dismissed the Revenue's appeal, emphasizing the importance of the intention at the time of acquisition and the link between the land sale and Corporate Box allotment. en-us Mon, 05 Jul 2021 00:00:00 +0530 Thu, 08 Jul 2021 08:45:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409445 The Tribunal upheld the CIT(A)'s decision, classifying profits from the sale of land as "Capital Gains" instead of "Business Income." Additionally, the undisclosed consideration of Rs. 70 lakhs related to a Corporate Box was deemed part of the sale consideration. The Tribunal dismissed the Revenue's appeal, emphasizing the importance of the intention at the time of acquisition and the link between the land sale and Corporate Box allotment. Case-Laws Income Tax Mon, 05 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409445