https://www.taxtmi.com/caselaws?id=770972 ITAT Pune dismissed the assessee's appeal challenging treatment of property transaction gains as business income. The tribunal upheld CIT(A)/NFAC's order, ruling that continuous purchase and sale of properties with intention to resell at profit constitutes adventure in nature of trade. Relying on precedent, the tribunal found activities with trappings of trade fall within business income scope, even without traditional commerce elements. The assessee's adoption of Vivad se Vishwas Scheme did not affect this classification. en-us Wed, 14 May 2025 00:00:00 +0530 Mon, 19 May 2025 08:37:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770972 ITAT Pune dismissed the assessee's appeal challenging treatment of property transaction gains as business income. The tribunal upheld CIT(A)/NFAC's order, ruling that continuous purchase and sale of properties with intention to resell at profit constitutes adventure in nature of trade. Relying on precedent, the tribunal found activities with trappings of trade fall within business income scope, even without traditional commerce elements. The assessee's adoption of Vivad se Vishwas Scheme did not affect this classification. Case-Laws Income Tax Wed, 14 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770972