https://www.taxtmi.com/caselaws?id=313762 The HC dismissed the revenue's appeal, affirming the ITAT's decision that the sale of hotel premises, post-closure, as small plots constituted capital income, not business income. The Court emphasized the Firm's primary business was hotel operation, not property development, highlighting intent and primary business activities in income classification. en-us Thu, 06 Dec 2007 00:00:00 +0530 Wed, 01 May 2024 17:12:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313762 The HC dismissed the revenue's appeal, affirming the ITAT's decision that the sale of hotel premises, post-closure, as small plots constituted capital income, not business income. The Court emphasized the Firm's primary business was hotel operation, not property development, highlighting intent and primary business activities in income classification. Case-Laws Income Tax Thu, 06 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313762