https://www.taxtmi.com/caselaws?id=417459 The Tribunal upheld the decision that income from the sale of lands should be treated as business income rather than exempt agricultural income. The continuous purchase and sale of lands by the assessee indicated a profit motive, leading to the classification of transactions as an adventure in the nature of trade. The appeals filed by the assessee for the assessment years 2012-13 and 2013-14 were dismissed, affirming the orders of the Assessing Officer and Commissioner of Income Tax (Appeals). en-us Wed, 15 Dec 2021 00:00:00 +0530 Mon, 24 Jan 2022 08:51:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417459 The Tribunal upheld the decision that income from the sale of lands should be treated as business income rather than exempt agricultural income. The continuous purchase and sale of lands by the assessee indicated a profit motive, leading to the classification of transactions as an adventure in the nature of trade. The appeals filed by the assessee for the assessment years 2012-13 and 2013-14 were dismissed, affirming the orders of the Assessing Officer and Commissioner of Income Tax (Appeals). Case-Laws Income Tax Wed, 15 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417459