https://www.taxtmi.com/caselaws?id=431812 The Tribunal upheld the CIT(A)'s decision to treat the gains from the sale of properties as business income, considering the assets' origin and their role in the appellant's business activities. The appeal was dismissed, affirming that the properties acquired in exchange for receivables were to be viewed as business assets, leading to the taxation of gains as business income. en-us Wed, 07 Dec 2022 00:00:00 +0530 Thu, 22 Dec 2022 08:44:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431812 The Tribunal upheld the CIT(A)'s decision to treat the gains from the sale of properties as business income, considering the assets' origin and their role in the appellant's business activities. The appeal was dismissed, affirming that the properties acquired in exchange for receivables were to be viewed as business assets, leading to the taxation of gains as business income. Case-Laws Income Tax Wed, 07 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431812