https://www.taxtmi.com/caselaws?id=410396 The Tribunal dismissed both appeals, upholding the CIT(A)'s decision to tax surplus from the sale of mortgaged plots as capital gains and allow bad debts written off as business losses. The Tribunal found the sales were voluntary, not forced, and losses were genuine business losses, not collusive transactions. en-us Thu, 29 Jul 2021 00:00:00 +0530 Fri, 30 Jul 2021 21:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410396 The Tribunal dismissed both appeals, upholding the CIT(A)'s decision to tax surplus from the sale of mortgaged plots as capital gains and allow bad debts written off as business losses. The Tribunal found the sales were voluntary, not forced, and losses were genuine business losses, not collusive transactions. Case-Laws Income Tax Thu, 29 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410396