https://www.taxtmi.com/caselaws?id=436075 The Tribunal ruled in favor of the assessee in a tax case involving the classification of gain from the sale of land, allowing it to be taxed as Long Term Capital Gain instead of business income. The deduction under section 54F for investment in a residential unit was permitted as the gain was assessed as capital gain. Additionally, the Tribunal deleted an addition under section 68 for unexplained cash credits, finding the assessee had provided sufficient evidence to support the transactions. en-us Thu, 30 Mar 2023 00:00:00 +0530 Tue, 04 Apr 2023 08:30:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436075 The Tribunal ruled in favor of the assessee in a tax case involving the classification of gain from the sale of land, allowing it to be taxed as Long Term Capital Gain instead of business income. The deduction under section 54F for investment in a residential unit was permitted as the gain was assessed as capital gain. Additionally, the Tribunal deleted an addition under section 68 for unexplained cash credits, finding the assessee had provided sufficient evidence to support the transactions. Case-Laws Income Tax Thu, 30 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436075