https://www.taxtmi.com/caselaws?id=764584 ITAT, Ahmedabad affirmed the lower authorities' treatment of the transactions as short-term capital gains, rejecting belated additional documents and the claim that the assessee was a mere name-lender for a real owner. The tribunal found conveyance deeds showed the properties were purchased in the purchasers' individual capacities, no documentary evidence was produced for conversion/non-agricultural expenses or payments to farmers, and there was no legal basis to treat the purchasers as agents by power of attorney. The alternative characterization as adventure in trade was also upheld and all grounds raised by the assessee were dismissed. en-us Fri, 10 Jan 2025 00:00:00 +0530 Mon, 10 Nov 2025 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764584 ITAT, Ahmedabad affirmed the lower authorities' treatment of the transactions as short-term capital gains, rejecting belated additional documents and the claim that the assessee was a mere name-lender for a real owner. The tribunal found conveyance deeds showed the properties were purchased in the purchasers' individual capacities, no documentary evidence was produced for conversion/non-agricultural expenses or payments to farmers, and there was no legal basis to treat the purchasers as agents by power of attorney. The alternative characterization as adventure in trade was also upheld and all grounds raised by the assessee were dismissed. Case-Laws Income Tax Fri, 10 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764584