https://www.taxtmi.com/caselaws?id=433538 The Tribunal ruled in favor of the assessee, determining that the surplus from the sale of properties should be classified as capital gains rather than business income. The decision was based on factors such as the intent of the assessee, the holding period of the properties, and the absence of systematic real estate business activities. The Tribunal instructed the Assessing Officer to remove the disputed addition and accept the capital gains as declared by the assessee. en-us Mon, 30 Jan 2023 00:00:00 +0530 Thu, 02 Feb 2023 08:57:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433538 The Tribunal ruled in favor of the assessee, determining that the surplus from the sale of properties should be classified as capital gains rather than business income. The decision was based on factors such as the intent of the assessee, the holding period of the properties, and the absence of systematic real estate business activities. The Tribunal instructed the Assessing Officer to remove the disputed addition and accept the capital gains as declared by the assessee. Case-Laws Income Tax Mon, 30 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433538