https://www.taxtmi.com/caselaws?id=411238 The Tribunal upheld the CIT(A)'s order, ruling that the excess land received on partition was not taxable under Section 28(iv) of the Income Tax Act, 1961, as it was considered a capital asset and not a business benefit. The appeal by the revenue was dismissed, and the cross objections by the assessee were also rejected. en-us Wed, 18 Aug 2021 00:00:00 +0530 Fri, 20 Aug 2021 08:08:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411238 The Tribunal upheld the CIT(A)'s order, ruling that the excess land received on partition was not taxable under Section 28(iv) of the Income Tax Act, 1961, as it was considered a capital asset and not a business benefit. The appeal by the revenue was dismissed, and the cross objections by the assessee were also rejected. Case-Laws Income Tax Wed, 18 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411238