https://www.taxtmi.com/caselaws?id=305702 The ITAT Ahmedabad allowed the appeal of the assessee, determining that income derived from unsold properties held as stock in trade should be treated as business income, not income from property. The decision set aside the CIT(A)'s order, citing legal precedents and the appellant's business as a builder and developer. The issue of computing ALV at 6% or 8% for unsold property was not specifically addressed as the primary issue of income classification was determinative of the appeal outcome. en-us Tue, 19 Mar 2019 00:00:00 +0530 Tue, 20 Dec 2022 23:11:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305702 The ITAT Ahmedabad allowed the appeal of the assessee, determining that income derived from unsold properties held as stock in trade should be treated as business income, not income from property. The decision set aside the CIT(A)'s order, citing legal precedents and the appellant's business as a builder and developer. The issue of computing ALV at 6% or 8% for unsold property was not specifically addressed as the primary issue of income classification was determinative of the appeal outcome. Case-Laws Income Tax Tue, 19 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305702