https://www.taxtmi.com/caselaws?id=300166 The Tribunal allowed the appeal, directing the assessing authority to treat the surplus from the sale of land as long-term capital gains, considering it an investment activity rather than a business venture. The Tribunal criticized the Commissioner of Income-tax(A) for not adequately comparing the facts of the case with relevant judicial pronouncements. The assessment was to be redone to determine the total income liable for taxation, including the benefit of indexation. en-us Mon, 07 Mar 2011 00:00:00 +0530 Fri, 14 Jan 2022 17:19:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300166 The Tribunal allowed the appeal, directing the assessing authority to treat the surplus from the sale of land as long-term capital gains, considering it an investment activity rather than a business venture. The Tribunal criticized the Commissioner of Income-tax(A) for not adequately comparing the facts of the case with relevant judicial pronouncements. The assessment was to be redone to determine the total income liable for taxation, including the benefit of indexation. Case-Laws Income Tax Mon, 07 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300166