https://www.taxtmi.com/caselaws?id=419991 The appellate tribunal overturned the lower authorities' decision and held that the land purchased by the assessee was rightly treated as a capital asset. The income from the land's transfer was deemed to be under the head 'Capital Gains' and not 'Business Income'. Consequently, the appeal was partly allowed in favor of the assessee. en-us Tue, 15 Mar 2022 00:00:00 +0530 Thu, 24 Mar 2022 09:22:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419991 The appellate tribunal overturned the lower authorities' decision and held that the land purchased by the assessee was rightly treated as a capital asset. The income from the land's transfer was deemed to be under the head 'Capital Gains' and not 'Business Income'. Consequently, the appeal was partly allowed in favor of the assessee. Case-Laws Income Tax Tue, 15 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419991