https://www.taxtmi.com/caselaws?id=430606 The Tribunal dismissed the appeal, affirming the classification of income from the sale of land as business income and upholding the disallowance of cash payments under section 40A(3). The Tribunal found that the land was non-agricultural at the time of sale and that the transaction was considered an adventure in the nature of trade, leading to the income being classified as business income. en-us Wed, 28 Sep 2022 00:00:00 +0530 Wed, 23 Nov 2022 10:38:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430606 The Tribunal dismissed the appeal, affirming the classification of income from the sale of land as business income and upholding the disallowance of cash payments under section 40A(3). The Tribunal found that the land was non-agricultural at the time of sale and that the transaction was considered an adventure in the nature of trade, leading to the income being classified as business income. Case-Laws Income Tax Wed, 28 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430606