https://www.taxtmi.com/caselaws?id=456841 Receipts from a development agreement were in dispute as to whether they constituted long-term capital gains or business income. The Tribunal noted unresolved factual issues on the assessee's intention in acquiring the land, its conversion from agricultural to non-agricultural use, the permissions obtained, and the execution of the development arrangement. As the complete factual record was not before it, the Tribunal did not decide the merits and instead restored the matter to the Assessing Officer for fresh consideration after adequate opportunity of hearing. The appeal was therefore allowed for statistical purposes. en-us Wed, 13 Sep 2023 00:00:00 +0530 Tue, 20 Aug 2024 23:42:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456841 Receipts from a development agreement were in dispute as to whether they constituted long-term capital gains or business income. The Tribunal noted unresolved factual issues on the assessee's intention in acquiring the land, its conversion from agricultural to non-agricultural use, the permissions obtained, and the execution of the development arrangement. As the complete factual record was not before it, the Tribunal did not decide the merits and instead restored the matter to the Assessing Officer for fresh consideration after adequate opportunity of hearing. The appeal was therefore allowed for statistical purposes. Case-Laws Income Tax Wed, 13 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456841