https://www.taxtmi.com/caselaws?id=435831 The Tribunal upheld the decision that the income from the sale of the property "Vision House" should be taxed in the hands of the individual members of the assessee AOP as capital gains for the assessment year 2008-09. The Tribunal rejected the Department's arguments and affirmed that the members were the rightful owners of the property, and the transaction did not qualify as business income due to the long holding period and lack of evidence indicating a business motive. en-us Wed, 23 Nov 2022 00:00:00 +0530 Wed, 29 Mar 2023 08:00:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435831 The Tribunal upheld the decision that the income from the sale of the property "Vision House" should be taxed in the hands of the individual members of the assessee AOP as capital gains for the assessment year 2008-09. The Tribunal rejected the Department's arguments and affirmed that the members were the rightful owners of the property, and the transaction did not qualify as business income due to the long holding period and lack of evidence indicating a business motive. Case-Laws Income Tax Wed, 23 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435831