https://www.taxtmi.com/caselaws?id=36895 The High Court of Allahabad remitted a case back to the Income-tax Appellate Tribunal for a fresh determination on whether excess profit from a property transaction should be classified as 'Capital gains' or business income. The court emphasized the need to consider all relevant facts and circumstances, including the subsequent conduct of the assessee, in determining the nature of the transaction. The court found that the Appellate Tribunal had not adequately examined the change in conduct, highlighting the importance of a comprehensive review before making a conclusive decision. No order as to costs was given. en-us Fri, 09 Nov 1979 00:00:00 +0530 Thu, 25 Mar 2010 12:20:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36895 The High Court of Allahabad remitted a case back to the Income-tax Appellate Tribunal for a fresh determination on whether excess profit from a property transaction should be classified as 'Capital gains' or business income. The court emphasized the need to consider all relevant facts and circumstances, including the subsequent conduct of the assessee, in determining the nature of the transaction. The court found that the Appellate Tribunal had not adequately examined the change in conduct, highlighting the importance of a comprehensive review before making a conclusive decision. No order as to costs was given. Case-Laws Income Tax Fri, 09 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36895