https://www.taxtmi.com/caselaws?id=762284 The HC held that receipts from sale of properties by the assessee, consistently engaged in letting property, are capital gains and not business income; isolated sales did not convert its rental business into property trading. The court further found the Appellate Tribunal lacked jurisdiction to entertain belated rectification applications under s.254(2) (six-month limit) and that its restoration and adverse disposal of appeals after dismissing them earlier was void ab initio. Decision rendered against the revenue. en-us Tue, 19 Nov 2024 00:00:00 +0530 Sat, 20 Sep 2025 11:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762284 The HC held that receipts from sale of properties by the assessee, consistently engaged in letting property, are capital gains and not business income; isolated sales did not convert its rental business into property trading. The court further found the Appellate Tribunal lacked jurisdiction to entertain belated rectification applications under s.254(2) (six-month limit) and that its restoration and adverse disposal of appeals after dismissing them earlier was void ab initio. Decision rendered against the revenue. Case-Laws Income Tax Tue, 19 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762284